USD/CHF advances to the monthly R1

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We continue to see the trend in US data increasing the odds that the Fed will be tapering quantitative easing later this year. We continue to view the USD as the best currency to a long hold exposure." 
- RBS Group Plc. (based on Bloomberg)


Pair's Outlook

On Mar 25 traders were willing to buy the U.S. Dollar and USD/CHF pair was not an exception, as the price surged sharply to the monthly R1 level at 0.9488. Also, the current area is bounded by the major upside sloping resistance, which now exactly intercepts the R1. However, if the U.S. Dollar index is going to surpass new highs, the pair should test a 0.9540 area, where the Bollinger band merges with the weekly R2.

Traders' Sentiment

Distribution of long and sell positions remains the same as yesterday. Bulls have control over a 47% market share and bears over a 53% piece. Waiting orders segment is distributed exactly the same as the spot market.
© Dukascopy Bank SA

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