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- Scotiabank (based on MarketWatch)
Pair's Outlook
Having difficulties with the resistance at 0.9128/12 this week the currency pair is failing to start a robust rally that would initially take USD/CHF up to 0.9204/0.9187 and then up to the 200-day SMA at 0.9320. However, given the most recent price action, we may still expect a dip down to the February low prior to the long-term ascent, as suggested by the weekly indicators.
Traders' Sentiment
The gap between the shares of long and short positions has widened even more, being that the former now constitute 74% of the market (73% yesterday), but for now the greenback remains unwilling to rise in price. As for the orders, 60% are to purchase the U.S. Dollar and 40% are to purchase the Swiss Franc.
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