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"Some people expected more dovish comments from Yellen, but it wasn't a big change."
- Global-info (based on CNBC)
Pair's Outlook
USD/CHF is forcing its way through the major supply area at 0.9176/56 at the moment. Here the currency pair is battling against the monthly R1 and 2014 high, which may force the Greenback to step back to 0.90 before this resistance is broken. Nevertheless, in the end the bulls are likely to prevail and push the price up to 0.9250, namely the 2013 Nov 7 high, which is also reinforced by the monthly R2.
Traders' Sentiment
Unlike five days ago, when as many as 74% of positions were long, the market is now undecided regarding the future path of USD/CHF—55% expect the Dollar to appreciate and 45% believe the Franc is going to outperform.
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