© Dukascopy Bank SA
- Adviser to the International Monetary Fund (based on Bloomberg)
Pair's Outlook
Seems that USD/CHF pair has finally settled above the 20-day and 55-day SMAs and is ready to move in an upside direction. Currently the pair has a free gap to appreciate till the 100-day SMA at 0.9270 and slightly higher at 0.9290, where the weekly R2 and monthly R1 are located, which will probably form a huge resistance together with the 100-day SMA.
Traders' Sentiment
Distribution of trading positions reversed again, as the majority of investors increased bearish sentiments - 56% of positions are short and 44% are long. Pending orders market fluctuates around an equilibrium, as spot market can not find a direction.
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