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"The probabilities about when the Fed would move off the zero bound are all piling up on this June meeting."
- James Bullard, St.Louis Fed President (based on MarketWatch)
Pair's Outlook
USD/CHF's bears failed to push the cross below 0.9550 for a second consecutive day, being that this demand area is supported by monthly PP, weekly S1, 55-day SMA and a Bollinger band. As still estimated by technical indicators, any downside movement can be expected only in the long-term. At the same time, in the medium-term the mentioned demand zone is likely to push the US dollar to the upside with the weekly R1 at 0.9760 as a potential target line.
Traders' Sentiment
Attitude towards USD/CHF pair remains strongly bullish, as 63% of all positions are long. Meanwhile, 52% and 49% of pending orders are now set to acquire the Greenback in 50 and 100-pip ranges from the current market price.
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