USD/CHF to trade sideways

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The U.S. economy is growing slowly, and I view that as a positive. The expansion is at a sufficient pace for the Fed to hold fire. This lends support to the dollar"
- Hans Kunnen, St. George Bank Ltd. (based on Bloomberg)

Pair's Outlook
USD/CHF hangs above 0.9750/38, while its dips should be also contained by support at 0.9702/0.9691, which proved to be strong enough to negate bearish momentum when the pair tried to complete a head and shoulders pattern just recently. Accordingly, we expect the price to stay between 0.9770 and 0.9750/38 for now, even though indicators point to the downside.

Traders' Sentiment
Traders' sentiment is unchanged towards USD/CHF. An overwhelming majority of traders (73%) foresee appreciation of the greenback relatively to the Swiss Franc, as the latter currency is among the least popular currencies in SWFX market. On the other hand, buy orders are in minority (46%).

© Dukascopy Bank SA
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Wed, 15 Aug 2012 14:57:55 GMT

EUR/CAD to test lower Bollinger band at 1.2141

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