© Dukascopy Bank
"The good news is that there are no signs that inflation could threaten the Federal Reserve's expansionary monetary policy any time soon"
- Wells Fargo (based on CNBC)
Pair's Outlook
The pair has extended the rally and soared up to 0.9359. USD/CHF is likely to consolidate before recommencing growth, although a pullback should be mild, not far below 0.9297or 0.9250. Afterwards we anticipate continuation of the uptrend, ultimate goal of which now resides at 0.9509, even though 0.9405 and 0.9466 will attempt to hamper a bullish move.
Traders' Sentiment
According to SWFX sentiment index, USD/CHF currency pair is overbought (66%), implying an increased possibility of deceleration of a current rally. If to compare buy and sell orders 100 pips from the current price, their numbers are nearly equal, being 47% and 53% of the market, respectively.
© Dukascopy Bank