© Dukascopy Bank SA
- Oanda Corp. (based on MarketWatch)
Pair's Outlook
Failure of the currency pair to climb over the resistance at 0.9799/73 has led to a precipitous decline down to Mar 14 high (0.9567), below which the bearish correction of the move started on May 2 should not extend. And while in the near term USD/CHF may not demonstrate willingness to step higher, longer term outlook remains positive.
Traders' Sentiment
Seems that a portion of Dollar-bears were able to benefit from the yesterday's dip, as the share of short positions contracted to 68% from 74%. On average, however, the U.S. Dollar is one of the most preferred currencies, acquired in 58% of trades. Meanwhile, 56% of orders placed on USD/CHF are to buy the buck.
© Dukascopy Bank SA