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- IronFX Global (based on Reuters)
Pair's Outlook
USD/CHF is currently trying to pass though the resistance implied by the monthly S1 and appears to be likely to succeed. Nevertheless, the supply zone at 0.9038/21, mainly created by the February low and the long-term down-trend, should prevent further appreciation of the U.S. Dollar, at least for some period of time, and may potentially even trigger some selling.
Traders' Sentiment
Along with the Sterling, the Swiss Franc is one of the least preferred currencies, being acquired only in 28% of trades in its crosses. In its pair with the U.S. Dollar, for example, 29% of positions are long. Concerning the orders, an overwhelming majority (77%) of them are placed to go long the buck.
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