© Dukascopy Bank SA
- Dennis Lockhart, FRB of Atlanta (based on Reuters)
Pair's Outlook
Though initially there were doubts whether USD/CHF will be able to carry on with the advancement after encountering the 100-day SMA, the exchange rate managed to overcome this obstacle. The next challenge is represented by the weekly and monthly R1 levels that guard one of the main resistances, specifically the 200-day SMA. The moving average is currently standing 50 pips above the spot and thereby implies a bearish outlook.
Traders' Sentiment
The SWFX traders remain strongly convinced that the buck is going to outperform the Franc. This is evidenced by a large amount of long positions opened on USD/CHF—74%. Meanwhile, the difference between the buy and sell orders is insignificant at the moment.
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