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- Aozora Bank (based on Bloomberg)
Pair's Outlook
While being supported by 0.9091/59, USD/CHF is cautiously approaching the resistance at 0.9176/60 (200-day SMA), which is a key to the long-term advancement of the currency pair. If this supply area is overcome, there will be few doubts that the exchange rate will rise up to 0.94. Alternatively, if 0.9176/60 holds, the 2012 lows at 0.89 are likely to be tested once again.
Traders' Sentiment
Judging by the sentiment of the market yesterday and today, the traders are not willing to change their positioning towards USD/CHF ahead of the important data that is yet to be released. Currently 74% of positions are long and 61% of orders are placed to acquire the U.S. Dollar against the Franc.
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