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"We've had very good job creation this year. In fact, this year is on track to be the best job creation year since 1999 if the current pace keeps up for the rest of the year."
- Federal Reserve Governor Jerome Powell (based on CNBC)
Pair's Outlook
The bearish pressure continues to push the US dollar down versus the Swissie. On Wednesday, the pair even dropped below the dense demand area around 0.9550, but quickly returned back closer to the major level at 0.96. It seems that current strength of bears is not enough for the cross to decline considerably. Any significant downside movement can be expected only in the long-term. This idea is also suggested by monthly technical indicators, while daily and weekly ones are sending mixed signals.
Traders' Sentiment
Attitude towards USD/CHF pair remains strongly bullish, as 63% of all positions are long. So do the pending orders, being that majority of them are set to acquire the Buck against the Swiss franc.
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