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"A negative interest rate is in our arsenal of instruments. We don't exclude any measure to meet our mandate of price stability."
- Thomas Jordan, SNB President (based on Bloomberg)
Pair's Outlook
USD/CHF keeps standing close to the resistance at 0.9586/78. If the sellers here manage to send the price down to 0.9450—the risk of a break-out to the downside will substantially increase, since the market will confirm formation of a rising wedge. Conversely, the if Greenback continues to appreciate and ignores the nearby resistances, the next target will be the 2013 Q3 high and weekly R3 at 0.9750 before the 2013 high 0.9840.
Traders' Sentiment
While the distribution between the bulls and bears levelled off throughout other currency pairs, in USD/CHF the former improved their positions—now they take up 67% of the whole market (62% yesterday).
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