© Dukascopy Bank SA
- BNP Paribas (based on CNBC)
Pair's Outlook
It appears that a falling trend-line at 0.9307/0.9294 has fully negated the upward momentum. Consequently, we should expect USD/CHF to focus on supports, the closest of which is situated at 0.9273/62. A subsequent level at 0.9215/01 is likely to be significantly tougher, being formed by the weekly S1 and two SMAs, namely for the last 20 and 55 days.
Traders' Sentiment
SWFX traders' sentiment towards USD/CHF has become less bullish, as the share of long positions has declined to 64%, while the Swiss Franc is one of the least frequently acquired among the majors. The distribution between the buy and sell orders is 51% to 49% respectively.
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