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- Cameron Peacock, IG (based on Rueters)
Pair's Outlook
USD/CHF pair's pace of appreciation slows down, as the price is approaching a 0.9443 level , where the 200-day SMA and the upper Bollinger line go. However, it is very hard to say, how the price will continue to move from this level, as indicators do not give an overbought signal. Current resistance levels were historically significant and reliable, thus they are expected to stop a price increase.
Traders' Sentiment
The Swiss Franc stays in a very difficult situation, as only 28% traders have bullish sentiments on this currency and another 72% prefer to have a long position in the U.S. Dollar. On the pending orders market, sentiments are bullish and anticipate further price increase, as 70% orders are to buy and 30% are to sell the buck.
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