© Dukascopy Bank SA
"After a couple of sessions of solid gains for the dollar, it's not unlikely to see a little profit-taking, a little consolidation."
- Commonwealth Foreign Exchange (based on CNBC)
Pair's Outlook
Although most of the near-term indicators poaint North and the price has recently closed above the 2013 Q1 high, USD/CHF is currently retreating. But this bearish activity should only be temporary, and the latest losses are likely to be negated after the pair comes down to 0.91, where the bullish momentum is likely to be restored. If not, then we will be looking at 0.90 as a potential reversal point.
Traders' Sentiment
While the portion of buy orders placed 50 pips from the spot went up, namely from 68 to 75%, at the same time their share in a wider price interval (100 pips from the spot) fell from 69 to 59%, most likely because of a cluster of sell stop orders below 0.91.
© Dukascopy Bank SA