USD/CHF to find support before reaching 2012 lows

Just like many other currency pairs, USD/CHF suffered from broad losses of the U.S. Dollar. As a consequence, many of the significant supports were broken. Nevertheless, the monthly PP, 2012 lows and the down-trend support line, which together ensure the long-term bullish outlook, remain intact. Accordingly, the dip should not take long to be fully stopped.

Surprisingly enough, Franc's outstanding performance yesterday did not put any noticeable pressure on the SWFX market participants. Just as before, an overwhelming majority (72.5%) of them are waiting for an up-trend to emerge in USD/CHF. Among the orders, most (72%) are to short sell the buck.