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"The polling on minimum wage is very clear: It is something that three quarters of the country supports."
- American Enterprise Institute (based on CNBC)
Pair's Outlook
USD/CHF came under increased bearish pressure on Monday; however, pair's decline was over due to toughness of the support at 0.9582. At the moment the pair is ready to recover in order to reach the 2014 high at 0.9587. If the American currency appreciates above this level, which is reinforced by the Bollinger band, then traders should look at monthly R1 at 0.9753. Technical studies, in turn, support this idea by giving positive signals on daily and weekly charts.
Traders' Sentiment
Sentiment with respect to the USD/CHF cross improved from yesterday, as 58% of all positions are long at the moment, while 62% of pending orders are waiting to acquire the Dollar in 100-pip range.
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