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- Societe Generale (based on Reuters)
Pair's Outlook
For now none of the resistances are able to tame USD/CHF, hectic behaviour of which resulted in violation of various supply zones. At first it looked like Mar 14 will manage to halt U.S. Dollar's appreciation, but the currency pair is already 100 pips above this level, being busy eroding 0.9667/62. The next resistance to try to prevent prolongation of the price increase will be 0.9698, though the pair will probably reach 0.9810/0.9799 before undergoing a correction.
Traders' Sentiment
Despite an overwhelming majority (74%) of bears being present in the USD/CHF market, the exchange rate refuses to submit to the sentiment, making resolute steps higher. Meanwhile, throughout their crosses, the Swiss Franc and the greenback were both bought in 51% of cases.
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