© Dukascopy Bank SA
"The main macro trigger is rising U.S. yields."
- Societe Generale (based on CNBC)
Pair's Outlook
USD/CHF continues to consolidate, as the bulls are dormant after a precipitous Sep 4 rally. However, as long as the support at 0.93 (weekly S1 and monthly R2) remains intact, the outlook will be considered favourable for the Greenback. Still, in order to confirm its bullish intentions, the pair has to surpass the resistances at 0.94 (monthly R3) and then at 0.9450 (2013 Sep high). Then we will be looking at the 2013 high at 0.98 as the next potential target.
Traders' Sentiment
While there is no significant gap between the bullish (53%) and bearish (47%) market participants, the orders to buy the U.S. Dollar (62%) notably outnumber the ones to sell the currency (38%) against the Swiss Franc.
© Dukascopy Bank SA