© Dukascopy Bank SA
"The data definitely missed expectations, but the market is still treading water until after the FOMC meeting."
- DailyFX (based on CNBC)
Pair's Outlook
Since USD/CHF has finally reached a major support, the US Dollar is supposed to stabilise near 0.9450 and start gaining an upward momentum. As long as this level is intact, 0.97 remains a viable medium-term target. But if the price closes below 0.94, the bulls will supposedly get the chance to recuperate only at 0.9300/0.9250, where the monthly S1 coincides with 38.2% Fibo, 100-day SMA and four-month up-trend.
Traders' Sentiment
According to the distribution between the longs (57%) and shorts (43%), the probability of the Dollar outperforming is higher. A similar skew is observed with the orders—60% of them are to buy and 40% are to sell the Buck.
© Dukascopy Bank SA