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"The dollar has moved up with higher U.S. yields."
- TD Securities (based on Reuters)
Pair's Outlook
USD/CHF was close to violating the support represented by the 200-day SMA last week, but in the end it managed to stay above 0.8938. However, the monthly indicators are still pointing downwards, suggesting the bears are soon going to take control of the market and push the exchange rate south, towards the 55-day SMA at 0.8918/04. At the same time, if the recent highs near 0.90 are overcome, 0.9160 could become the next target.
Traders' Sentiment
Right now the percentage of long positions stands at the same level as last Friday, specifically at 65%. Speaking of the pending orders, the same portion of them (65%) is placed to purchase the U.S. Dollar against the Franc.
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