© Dukascopy Bank SA
- IG Markets (based on Bloomberg)
Pair's Outlook
Yesterday USD/CHF fetched 0.9278, but still did not close beneath the 100-day SMA that holds for now. If it falls in the wake of the protracted bearish correction of the bullish wave started at the very start of Feb, just like the 200-day SMA a few days ago, then we will look for a rebound from 0.9265/57. Nonetheless, a risk of an even deeper retracement still persists.
Traders' Sentiment
At the moment the Swiss Franc is one of the least popular currencies, being acquired in only a third of trades. However, the number of long positions (46%) in USD/CHF is lower than the amount of the short ones (54%). At the same time the percentage of buy orders has increased up to 60%.
© Dukascopy Bank SA