USD/CHF tests the 55-day SMA at 0.9345

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
There is a good chance that the Fed will announce a new round of money printing and bond buying on Dec. 11-12 meeting"
- Westpac banking Corp. (based on Bloomberg)

Pair's Outlook
Last week USD/CHF pair ended by breaching the 55-day SMA and the monthly PP level at 0.9345. Today the price consolidates by slightly slipping lower to retest the 55-day SMA or even the 20-day SMA at 0.9320. Therefore it would be rational to wait where the price will find a support and settle.

Traders' Sentiment
The disproportion between bulls and bears slightly reduced, since the buy side controls 84% and the sell side 16%. The pending orders market is more balanced, as 62% of placed orders are buy and 38% are sell.

© Dukascopy Bank SA
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