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"I doubt that the FOMC is going to send any signals next week."
- Sireen Harajli, Mizuho Corporate Bank (based on Reuters)
Pair's Outlook
Even though USD/CHF is only facing the weekly R1 and Bollinger band, the rate remains hesitant to extend its rally. There are also almost no technical indicators supporting further appreciation of the greenback. Nevertheless, considering the currency pair has recently broken out of the falling wedge to the upside and gained a foothold above the long-term moving average, this year's high at 0.9160 still appears to be an achievable objective.
Traders' Sentiment
The bullish sentiment may not be as strong as five days ago, when 75% of positions were long, but the majority of traders, specifically 66% of them, are still looking forward to a stronger greenback relative to the Franc.
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