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"The market is the least engaged with payrolls that I've seen in a long time going into this [U.S.] payrolls release."
- Steven Englander, Citi (based on MarketWatch)
Pair's Outlook
Seems that USD/CHF is taking a short break after a protracted period of consecutive gains. But the correction should not be deep, considering that the main support is fairly close, at 0.8943/28, and is created by the 200-day SMA. Moreover, most of the daily technical studies are pointing upwards, suggesting the pair will soon resume its journey towards the key resistance in the face of the Jan 21 high at 0.9156.
Traders' Sentiment
As evidenced by the SWFX traders' sentiment, about seven out of ten traders believe that the U.S. Dollar is going to appreciate relative to the Franc. In the meantime, the portion of buy orders declined, from 63% to 60%.
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