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"The market sold aggressively throughout the week, and now is thinking maybe they had taken this too far."
- Barclays (based on Reuters)
Pair's Outlook
The first half of October was marked with poor performance of the US Dollar against the Franc, but now the currency pair managed to settle above 0.9450—a positive sign for the bulls. And even though the technical studies are not in favour of a surge, except for the weekly ones, USD/CHF has the potential to jump up to 0.9550 in the nearest future. In the longer-term perspective the pair should challenge and defeat the resistance at 0.97.
Traders' Sentiment
The gap between the bulls and the bears is in place—while the former take up 61% of the market, the latter—only 39%, meaning the sentiment is bullish at the moment. Concerning the orders, there are more sell ones in a 100-pip range, namely 76%.
© Dukascopy Bank SA