USD/CHF erodes weekly S2
Pair’s Outlook
USD/CHF maintains the course south. If it closes lower today as well, it will be a fifth bearish candle in a row. And while the decline itself should not be a surprise, since the pair is currently moving from one boundary of the pattern to another, absence of a correction was unexpected. But there are still supports that could trigger buying before the rate reaches 0.865, such as the weekly S2 at 0.8755 and the monthly S1 at 0.8728.
Traders’ Sentiment
SWFX market participants have become less certain of the bearish tendency not persisting in the future, though we must note that the majority still reckons that the price should eventually go up, specifically 70% of traders.
Source: DukascopyBankSA
