© Dukascopy Bank SA
"The dollar continues to look well-bid across the piece and people are scrambling to profit from that. Most crosses are favorable for dollar gains."
- Canadian Imperial Bank of Commerce (based on Bloomberg)
Pair's Outlook
Freedom of USD/CHF has been restricted by the weekly R1 from above and monthly R2 from below this week. But after the consolidation the pair should resume its journey. First, towards the 2013 Sep high at 0.9450. Then, if the bears allow, to the other 2013 highs around 0.98, while the 2012 peak and the parity level at the same time seems to be too far away right now, also considering that the technical studies do not look particularly promising.
Traders' Sentiment
The sentiment of the SWFX market remains neutral with respect to USD/CHF—52% of open positions are long and 48% are short. In the meantime, the share of commands set to purchase the Buck fell from 72 to 66%.
© Dukascopy Bank SA