© Dukascopy Bank SA
- IG Markets (based on Reuters)
Pair's Outlook
USD/CHF pair experiences a heavy depreciation, as the price decreased to the lowest level since May, 2012. The exchange rate moves along the lower Bollinger line towards the weekly S1 at 0.9101 and the monthly S2 at 0.9079. Looking from a wider perspective in the weekly graph the lower Bollinger line is at 90.70, which will be a strong resistance for the current debasement. As the price deprecates for the second week, the RSI has a value only of 26, therefore it is probable that the price will start a correction soon.
Traders' Sentiment
The Swiss Franc loses the ground, as the buy side sharply increased its share in opened positions market: 83% of traders have long positions and only 17% have short ones. Placed orders segment comes along the trend, as 40% of orders are buy and 60% are sell.
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