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"What I can tell you is that we are making progress towards our objectives but there is considerable further progress still to go."
- New York Fed President William Dudley (based on Reuters)
Pair's Outlook
On Thursday, the USD/CHF currency pair continued trading around the weekly pivot point at 0.9658 and below the important resistance, represented by October high at 0.9687. Despite four straight days of failed attempts to cross the latter level, bulls do not seem to give up this idea to eventually breach this line. If it happens, then the pair will surge up to weekly R1 at 0.9736. The bearish scenario is assumed to be less probable in the short and medium-term.
Traders' Sentiment
Along with other currency pairs, sentiment on the USD/CHF cross remains rather stable, as 57% of all positions are long. Pending orders in both ranges, however, deteriorated slightly.
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