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"The trend for dollar buying is going to remain intact. The time for a U.S. rate hike is rapidly approaching."
- Sumitomo Mitsui Banking Corp. (based on Bloomberg)
Pair's Outlook
USD/CHF stays capped by the weekly R1, but, provided that the support at 0.93 is not suddenly violated, the bulls should gain the upper hand in this local battle. This means that the nearest target is the 2013 Sep high at 0.9450, and, unless the five-month up-trend at 0.91 is violated, we can expect the 2013 high just above 0.98 to be revisited before the end of this year. However, we should note a lack of reassurance from the monthly studies.
Traders' Sentiment
The market is undecided with respect to the future of USD/CHF—52% of traders expect the U.S. Dollar to gain value and 48% of them reckon that an alternative scenario is more likely to take place given the current conditions.
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