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"Additional monetary accommodation is needed to more quickly boost output to its full potential level. The economic circumstances warrant extremely strong accommodation"
- Charles Evans, Federal Reserve Bank President (based on CNBC)
Pair's Outlook
Resistance at 0.9805 has temporarily suspended a rally of USD/CHF, however, this level is viewed to be incapable of containing the pair for a prolonged period of time, being that the price possesses considerable bullish momentum. Subsequent level lies at 0.9896/0.9906, followed by 1.0006/42. Losses, in the meantime, should be limited by supports at 0.9692/90 and 0.9605/0.9581.
Traders' Sentiment
The Swiss Franc is the second least frequently acquired currency after the Yen, being short-sold in 72% of cases on average in all of its crosses. Accordingly, most of traders stay long on USD/CHF, expecting the greenback to gain in value relative to the Swissie. As for the orders, 36% of them are to buy the U.S. Dollar and 65% are to sell it against the Franc.
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