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"If I saw a forecast for declining inflation and rising unemployment [in the USA] as the CBO has sketched would happen - if we did go over the fiscal cliff - that would be an argument for more accommodative monetary policy"
- Narayana Kocherlakota, Federal Reserve Bank of Minneapolis President (based on Bloomberg)
Pair's Outlook
USD/CHF has finally managed to pierce through 0.9499/0.9507 and remains well-placed for additional gains. The only resistances that separate the currency pair from reaching the highest level in 20 months (1.0065) are two levels - at 0.9596 and at 0.9692. Therefore the price is likely to move in the direction of least resistances, as suggested by majority of (daily) indicators.
Traders' Sentiment
Traders' sentiment towards USD/CHF is presently neutral, since the shares of bulls and bears in the market is nearly the same, being 49% and 51% of it, accordingly. However, the situation with orders placed within 200 pips from the currency price is rather different, as three quarters of all the traders are planning to enter the market with buy trades, when their conditions will be met.
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