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"At Wednesday's FOMC meeting, changes to Fed forecasts and wording that reflects expectations that rates could go higher sooner than expected should provide support to the U.S. dollar."
- Barclays (based on CNBC)
Pair's Outlook
Though the U.S. Dollar is hesitant to appreciate at the moment, the market is bullish—since May the pair has already covered seven figures. The consolidation that emerged after the accelerated advancement should eventually give way to a long-term recovery, which in turn has the potential to result in a rally to the 2013 just above 0.98. However, the monthly technical indicators are mostly against such a scenario—four out of eight are bearish.
Traders' Sentiment
There are only marginal changes in the sentiment of the SWFX market towards USD/CHF—54% of open positions are long. There is a little more volatility among the pending orders—the share of the buy ones fell from 62 to 59%.
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