© Dukascopy Bank SA
"The rally, if you can call it that, was interrupted for a time when the initial release of the U.S. Manufacturing ISM printed lower at 53.2, but a "woops" moment ensued when a U.S.-based economist picked up an error."
- National Australia Bank (based on CNBC)
Pair's Outlook
USD/CHF has already erased the losses made last week and it seems ready to advance even further from here. The currency pair is well-supported at 0.8943/28 (200-day SMA) and may therefore try to rise up to this year's high at 0.9156, which is close to the monthly R2. And while the daily studies are more or less in favour of a rally, the monthly indicators suggest there are still considerable downside risks present in the market.
Traders' Sentiment
An overwhelming majority of the traders believe that the greenback will outperform the Swiss Franc, namely 72% of them, which is a small change from yesterday's 75%. Concerning the orders, 63% are to buy and 37% are to sell the U.S. Dollar.
© Dukascopy Bank SA