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- Australian Treasurer Way Swan (based on Reuters)
Pair's Outlook
As the last few weeks were strongly bullish and USD/CHF pair appreciated by almost 300 pips pushing the RSI value to the level of 69. Therefore, some correction would be very likely soon, at least bringing the price back to the 200-SMA level at 0.9454 to retest its strength. Further resistance level should be 0.9507/25, where the 100-day SMA and the weekly R1 intersect.
Traders' Sentiment
Traders in SWFX market strengthen their bullish positions on USD/CHF pair, as the buy side increased to 74% and the sell side reached 26%. Pending orders segment is also very bullish, as 70% traders placed orders for a buy position and only 30% for a sell.
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