© Dukascopy Bank SA
"The dollar's just gong to continue to seesaw. Economic concerns globally are keeping it relatively strong, but continued printing by the Fed is keeping it weak"
- Rochford Capital (based on Bloomberg)
Pair's Outlook
Formidable resistance at 0.9414/26 halted advancement of the pair, implying that the recent rally was simply a bullish correction and USD/CHF should now continue to drift lower. The initial target for the price lies at 0.9346, although a real test of bearish momentum will occur once the pair dips to 0.9245/34, as it was unable to breach it earlier.
Traders' Sentiment
An absolute majority of SWFX marketplace participants (72%) expect the greenback to appreciate relatively to the Swiss Franc, while merely 28% of them believe in an alternative scenario. On the other hand, the portion of buy orders is 53% and the share of sell orders is 47%.
© Dukascopy Bank SA