© Dukascopy Bank SA
"We've had data confirming that the U.S. economy is a bit stronger than what everyone previously thought, and the Fed is slowly, slowly moving toward normalizing policy. The trend is for the dollar to move higher."
- St. George Bank (based on Bloomberg)
Pair's Outlook
USD/CHF took a break ahead of the weekly R2 and Bollinger band, but there should be no difficulties for the pair to reach the 2014 peak at 0.9156, as suggested by the daily and weekly studies. If we get to see trading taking place above this level, we will consider the 2013 Nov 7 high as the next target, but it must be noted that the monthly indicators are not in favour of a rally, except for the neutral ones most are pointing downwards.
Traders' Sentiment
While there is a clear advantage in the number of longs (74% of the market), 50 pips from the spot a majority of the commands is to sell the U.S. Dollar against the Swiss Franc. Though 100 pips from the spot already 63% of the orders are to buy the Greenback.
© Dukascopy Bank SA