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"The Dollar Index rose after Federal Reserve Chairman Ben S. Bernanke said the U.S. risked falling back into recession unless lawmakers averted the so-called fiscal cliff, spurring demand for the safety of the U.S. currency"
- Bloomberg
Pair's Outlook
Yesterday USD/CHF pair decreased further and reached a new seven-week low at 0.9337. Currently the price is slightly higher, but slowly tries to retest the lowest point and proceed the depreciation. The next support level would be 0.9313, the lower Bollinger band line, and if 92.73 level is broken, the risk to see a retest of bottom at 92.16 will be elevated.
Traders' Sentiment
USD/CHF pair maintains its bullish sentiments in SWFX market, as 73% of investors have a buy position and 27% have a sell position. Pending orders distribution is more balanced, as 65% already placed an order for a bullish position and 35% for a bearish position.
© Dukascopy Bank SA