© Dukascopy Bank SA
- BK Asset Management (based on CNBC)
Pair's Outlook
The support at 0.9038/25, mainly formed by the 100-day SMA and the monthly PP, did not manage to prevent a sell-off. USD/CHF plunged down to the rising trend-line, but was able to recover some of the lost ground afterwards. Still, as long as 0.8986/71 remains intact, the risks are to be skewed to the upside, even though technical indicators are currently bearish.
Traders' Sentiment
A slight portion of bullish traders decided to leave the market due to poor performance of the greenback on Thursday, but it does not change the fact that a substantial majority of market participants hold on to long positions, namely 70% of them. Speaking of the orders, 66% of them are to purchase the buck against the Franc.
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