USD/CHF fluctuates between SMAs

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We see only moderate growth compared to recent years, and these solid but hardly effervescent economic conditions should keep inflation in check. That's a really nice environment for local bond markets." 
- Bank Sarasin & Cie AG (based on Bloomberg)


Pair's Outlook

Yesterday USD/CHF finally breached into an area bounded by 55-day and 100-day SMA. The pair has stepped up from the 20-day SMA at 0.9173 and increased through the 55-day SMA and currently is around the weekly R1. In case the pair maintains bullish sentiments and appreciates according to the first-quarter forecast, the next major resistance level will be the 100-day SMA at 0.9268.

Traders' Sentiment
The Swiss Franc recovers its popularity, as the sell side of USD/CHF sharply increased and reached 49%. Pending orders segment is totally neutral, as both side have exactly 50% of placed orders.
© Dukascopy Bank SA

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