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"President Barack Obama and U.S. Congress return to Washington today to continue negotiations over the so-called fiscal cliff, or more than $600 billion in automatic tax increases and spending cuts that take effect next month"
- Bloomberg
Pair's Outlook
USD/CHF gains more and more bearish momentum, as the price has reached the lower declining trend-line of the channel. Movement since September, 2012 is bounded by the channel, which has not yet been violated. Together with other factors - the top banks estimate to see at least 0.95 in the first quarter of 2013 and the RSI has a value of 30, it is very likely to see a price reverse soon.
Traders' Sentiment
USD/CHF pair remains besieged by buyers of the U.S. Dollar, as the majority of traders, 86%, have a long position on this pair and only 14% have a short position. Pending orders market is also strongly bullish, 77% of orders are buy and 23% are sell.
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