© Dukascopy Bank SA
"We're still looking at possible Fed action in September"
- RBS Securities (based on CNBC)
Pair's Outlook
An uptrend support at 0.9722/0.9691 is once again at risk of being breached. Provided it does not withstand bearish pressure, additional support levels at 0.9661 and 0.9598 will become exposed. Nonetheless, the currency may still reverse the short-term tendency and prevent a breakdown of the uptrend buy sustaining a rally above 0.9738/51.
Traders' Sentiment
The portion of long positions has expanded even more and now forms 73% of the market, as most of the traders expect USD/CHF to rally. However, orders show a contrarian outlook on the currency pair, as sell orders are in majority (58%) and will resist increase of the greenback's value.
© Dukascopy Bank SA