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"The franc remains highly valued against the euro."
- Thomas Jordan, SNB President (based on Bloomberg)
Pair's Outlook
USD/CHF keeps on grinding higher, being that there are no tough resistances nearby. The bullish tendency is expected to persist until the rate touches the 2013 Nov 7 high at 0.9250. However, there the U.S. Dollar will be prone to a sell-off, which should stop to develop around 0.9150—the 2014 Q1 high. But even a deeper bearish correction, as long as it is halted above the key up-trend at 0.90, will not change the outlook.
Traders' Sentiment
The attitude of the SWFX market worsened with respect to USD/CHF—there is no more gap between the bullish and bearish participants. But 50 pips from spot there are a lot more commands to sell (70%) than to buy (30%).
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