USD/CHF returns to demand at 0.9550

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"With monetary easing under way by the ECB and Swiss inflation still trending below target levels, the SNB will have to extend the currency cap against the euro into mid-2016 at the very least."
- Moody's Analytics (based on Bloomberg)

Pair's Outlook

The Greenback did not succeed at overcoming the selling pressure yesterday, as a result of which the currency retreated back to 0.9550. But the dip should not extend further—the downside is limited by the monthly pivot point in conjunction with the 55-day SMA. If they fail, there is another formidable support at 0.95, where the weekly S2 merges with the 23.6% retracement of the May-Nov advancement.

Traders' Sentiment

The market participants did not change their bullish attitude towards USD/CHF—66% of positions are long. But the percentage of the orders to acquire the Buck went noticeably up, namely from 52 to 61%.
© Dukascopy Bank SA

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