© Dukascopy Bank SA
"It's the ongoing story of the greater likelihood that the Fed will move before anybody else."
- Interactive Brokers (based on Bloomberg)
Pair's Outlook
The Greenback keeps strengthening and there seem to be no resistances in USD/CHF nearby that could contain the present upward momentum. The closest dense supply area is expected to be encountered only at 0.9750, where the weekly R3 level merges with the 2013 Q3 high, just 100 pips away from the 2013 high. But even if the price slips before reaching these highs, the bullish outlook should be preserved by the dense demand zone at 0.94.
Traders' Sentiment
The difference between the numbers of bulls and bears is still insignificant—10 percentage points. But there has been a large change in the distribution between the buy and sell orders—the former now take up 65% of the market (59% last Friday).
© Dukascopy Bank SA