USD/CHF sharply appreciates

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Source: Dukascopy Bank SA
© Dukascopy
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Pair's Outlook
In yesterday's trading session USD/CHF has retreated from 0.9262 support level and sharply appreciated, with a peak at 0.9330. USD/CHF pair fluctuates in a downward sloping channel together with neutral technical indicators, therefore it is very possible that the price is consolidating and preparing for a high timeframe impulse. If the channel idea is true, it is likely to see the price increase to a 0.9360 level.

Traders' Sentiment
USD/CHF keeps an overbought pair's status, as 74% traders have a buy position and only 26% a short. As for the orders placed on the pair, 63% are buy and 37% are sell orders, and thus imply existence of a significant support situated near the spot price, which will delay decline.

© Dukascopy
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