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"It seems as though the committee is moving away from quantitative easing as the central bank expects the economic activity to gradually gather pace over the coming months"
- DailyFX (based on MarketWatch)
Pair's Outlook
According to the technical studies, USD/CHF is expected to accelerate recovery and pierce through some of the resistances that lie on the horizon. An interim level is at 0.9862, followed by 0.9896/0.9906, while a medium-term target is situated at 1.0006/42. Since we may not rule out dips that might still occur, supports at 0.9692/90, 0.9637 and 0.9581/56 should also be considered.
Traders' Sentiment
Being that the Swiss Franc is the second least preferred currency after the Yen, traders are inclined to enter the market with buy trades, resulting in an increased share of long positions on USD/CHF - 64%. As for the orders, 39% of them are to buy the greenback and 61% are to sell it against the Swissie.
© Dukascopy Bank SA