USD/CHF is heading towards 0.9545/61

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We are enforcing the minimum exchange rate with all determination because it is the right monetary policy. The SNB has to do that to prevent a deflationary development"
- Thomas Jordan, President of the SNB (based on Bloomberg)

Pair's Outlook

Despite USD/CHF sliding slightly lower than expected, the currency couple was able to commence recovery at 0.9481/72, which first should lead to an attainment of 0.9545/61, then a retest of 0.9628/51. Given the long-term bullish outlook and majority of signals from weekly technical indicators being "buy", the pair is likely to erode the latter level and advance further.

Traders' Sentiment
USD/CHF is overbought to a substantial extent, as 71% of market participants stay long on the currency pair, being that the Swiss Franc is the least popular currency after the Yen. However, only a third of traders decided to place buy orders on USD/CHF. Accordingly, 67% of traders intend to sell the pair once it reaches a certain level.

© Dukascopy Bank SA
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Mon, 02 Jul 2012 15:30:53 GMT

EUR/JPY slips as optimism after the EU summit fades

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Mon, 02 Jul 2012 07:45:27 GMT

USD/JPY to bounce off 79.52

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