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"The Fed stands very little chance of achieving its goals on employment without further stimulus"
- Miller Tabak & Co. (based on Reuters)
Pair's Outlook
USD/CHF has plunged below 0.9813/0.9795 and may even extend the dip to 0.9717/0.9680, behaviour after encounter with which is likely to determine whether the pair will preserve the bullish outlook or change it to the bearish one. A close below 0.9717/0.9680 would imply intention of the price to aim for 0.9352/42 in the long-term, while a simple test would reassure us of subsequent recovery.
Traders' Sentiment
The portion of long positions on USD/CHF has soared up to 71%, indicating increasing conviction of the market the pair is about to pick up. However, sell orders (61%) are in distinct majority relatively to buy orders (39%) and may hamper advancement of the currency couple once it commences rally and thus triggers them.
© Dukascopy Bank SA