USD/CHF steps higher from 0.942 level

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"QE3 certainly played its role in basically encouraging people to take risk and to some extent to short the dollar. The risk appetite was pretty strong overall, there were better places to park your money than the dollar"
- Societe Generale SA (based on Bloomberg)

Pair's Outlook
During Friday trading session USD/CHF pair moved up and checked the 200-day SMA at 0.9466. Seems that the check test was successful, as the price closed beneath the moving average and today extends a downside movement. The possible support levels are 0.9393, the weekly S1, and the 0.9362-0.9344 range, where the 55-day SMA and the weekly S2 cross.

Traders' Sentiment
SWFX market distribution for USD/CHF pair remains extremely bullish, as the buy side contains 71% positions and the sell side only 29%. Pending orders segment also has sentiments for a bullish movement, since 73% orders are placed for a buy position and 27% for a sell position.

© Dukascopy Bank SA
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