© Dukascopy Bank SA
- BNP Paribas (based on CNBC)
Pair's Outlook
While USD/JPY is hesitant to advance at the moment, USD/CHF is running wild. Despite a variety of studies concentrated near 0.89, including the 2012 lows, 11-month down-trend line, monthly R1 and 100-day SMA, the currency pair continues gaining ground. If the resistance at 0.8937/16 is overcome in the nearest future, the 200-day SMA together with the monthly R2 at 0.9028/13 will most likely be the next target.
Traders' Sentiment
The portion of bulls lost three percentage points, but still an overwhelming majority of traders expect further strengthening of the greenback, specifically 70% of them. The distribution between the buy and sell orders is 58% and 42% respectively.
© Dukascopy Bank SA