USD/CHF rallies above 0.9508/0.9497 - Technical Analysis - Dukascopy Bank

Tue, 19 Jun 2012 08:45:43 GMT
Source: Dukascopy Bank SA
 
© Dukascopy Bank SA
"There are some expectations that the Fed may extend the Twist program. The Fed may also give some indication that they may do something in the later part of the year. The dollar will come under pressure"
- Forecast Pte (based on Bloomberg)

Pair's Outlook
USD/CHF has managed to close a downside gap and is currently advancing further. Still, the currency couple may falter at 0.9585/95, breach of which would imply strengthening bullish momentum. Failure to overcome it, on the other hand, will likely lead to a challenge of a support at 0.9508/0.9497. Additional levels are at 0.9443 and at 0.9382/67.

Traders' Sentiment
The Swiss Franc has taken the lead in being the least preferred currency relative to its counterparts, being chosen to be acquired only in 28% of cases. Consequently, 75% of traders stay long on USD/CHF and only a quarter of them expect an alternative scenario, where the Franc is going to appreciate against the U.S. Dollar.

© Dukascopy Bank SA

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