© Dukascopy Bank SA
"It seems the Fed is closer to moving, in a broad way, than was generally perceived"
- Morgan Stanley (based on MarketWatch)
Pair's Outlook
USD/CHF has covered a great deal of space towards 0.9394/70 and is thus unlikely to return to trading within an uptrend channel. It may still make a bullish correction and retrace back to 0.9721/45, but probability that the price continues recovery from there is low. Conversely, the pair is viewed as inclined to extend the present dip down to 0.9504.
Traders' Sentiment
The currency pair remains overbought, but to a lesser extent than yesterday, as the portion of bulls declined to 69%, while the percentage of bears increased up to 31%. Nevertheless, distribution between buy and sell orders does not support positioning of trades, being perfectly neutral.
© Dukascopy Bank SA