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"It all speaks to the story that the U.S. can sustain pretty strong growth even when there are concerns about growth slowing in places like China and the euro zone."
- JP Morgan Private Bank (based on Reuters)
Pair's Outlook
The American currency showed its strength in pairs with all major currencies, including the Swiss franc. Yesterday, the USD/CHF pair advanced more than 80 pips to reach the weekly R1 at 0.9724 and close slightly above this level. Moreover, the Greenback rose above the 2014 high and set a new yearly record. If the currency manages to overcome the next resistance at 0.9753 (monthly R1), then a climb up to weekly R2 will become a much more realistic scenario in the medium-term.
Traders' Sentiment
Even though 58% of traders still hold bullish positions on the Dollar versus the Franc, pending orders in both ranges entered the bearish territory, with 57% and 51% in 50 and 100-pip ranges, respectively.
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