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"With gas prices falling back, it gives consumers a little more purchasing power which seems to be setting up for a pretty solid Christmas season. I would look for something like 2.5 percent (consumer spending) for the quarter."
- Amherst Pierpont Securities (based on CNBC)
Pair's Outlook
The 2014 high at 0.9714 has eventually made the USD/CHF currency pair to lose value. Yesterday, the pair dropped below the weekly pivot point and closed at 0.9634. In case the pair fails to regain bullish momentum and return back above the mentioned support, it will come under the risk to went down to 0.9589, where the weekly S1 has its location. Technical studies, however, are neutral in the short-term and expect a rise of the Buck on a weekly time-frame.
Traders' Sentiment
The advantage of bulls over bears remains very strong. At the moment 63% of all opened positions are long and 37% stay short on the US dollar. Pending orders tend to support the market sentiment and are set to acquire the Greenback in the majority of all cases.
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