© Dukascopy Bank SA
"In view of the roller-coaster ride in Europe, Swiss industry is failing to pick up"
- Credit Suisse and SVME (based on CNBC)
Pair's Outlook
USD/CHF continues to close in on an uptrend support line at 0.9429/0.9397 and only a support area at 0.9489/66 separates them. Once the upward sloping trendline is reached, the pair is expected to receive strong bullish impetus and recover, although we may not yet rule out a possibility of an extension of a dip down to 0.9356 or even 0.9253.
Traders' Sentiment
The Swiss Franc is the least popular currency among its major counterparts and is acquired only in 25% of cases. Respectively, USD/CHF is overbought, as 74% of the positions on the pair consist of longs and merely 26% are shorts. The ratio between buy and sell orders is 61% to 39%, accordingly.
© Dukascopy Bank SA