© Dukascopy Bank SA
"The euro's existential crisis risks accelerating the end game. The question for the SNB is whether it is willing to risk massive intervention in the defense of an exchange-rate target it knows to be unsustainable"
- JPMorgan Chase (based on WSJ)
Pair's Outlook
The currency pair is slowly inching lower, but nonetheless keeps it overall upward tendency, current dip presumably being only a phase of bearish correction. The price may fall down to 0.9531/01, but should be underpinned there and sent back up, in order to conquer resistances at 0.9659, 0.9756 and at 0.9902. In case the support at 0.9531/01 does not withstand bearish pressure, we might see a pullback down to 0.9466.
Traders' Sentiment
The portion of bulls on USD/CHF carries on decreasing, as they currently constitute 39% of the market, whereas the share of bears has already grown up to 61%, since the Swiss Franc is one of the least popular currencies, along with the Japanese Yen. At the same time the ratio of buy orders to sell orders is presently 44% to 56%, respectively.
© Dukascopy Bank SA