© Dukascopy Bank SA
- BNP Paribas (based on Reuters)
Pair's Outlook
USD/CHF was unable to cling to the support at 0.9567/44, but apparently has better chances at preventing development of the decline at 0.9469/67, which consists of the weekly S1 and 55-day SMA. Provided that bears are not interested in loosening the grip on the pair, 100 and 200-day SMAs at 0.9427 and 0.9350 respectively may come into play.
Traders' Sentiment
Not only did the bears lose their dominance, they also let the bulls to take control—the latter now take up 60% of all the traders in the SWFX marketplace, reflecting a prevailing view that USD/CHF is likely to recover. As for the orders, the portion of buy ones contracted marginally, down to 59%.
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