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"They're [the Fed] going to stick to their wait-and-see approach and Operation Twist until the end of the year. The Fed is taking note of the slowdown and is limiting their scope of action"
- FXCM (based on MarketWatch)
Pair's Outlook
Without reaching support at 0.9708/0.9677, USD/CHF managed to gain bullish momentum and confront 0.9809/20, though the currency pair appears to have some difficulty at overcoming it, which in turns delays attainment of subsequent resistances at 0.9923/31 and 1.0003. In the meantime, dips should be limited by support levels at 0.9738 and 0.9708/0.9677.
Traders' Sentiment
At the moment the Swiss Franc is the second least popular currency after the Japanese Yen and is being acquired in 32% of cases. Consequently, stance of an overwhelming majority (72%) of traders towards USD/CHF is bullish. However, the majority of orders placed on the pair are sell orders, which form 54% of the total amount.
© Dukascopy Bank SA