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"With still no developments from Europe [on Greece] and negotiation on the fiscal cliff unlikely to be a smooth process between U.S. policy makers, it's hard to see what could turn sentiment around. We continue to favor the dollar upside"
- Lloyds Bank (based on MarketWatch)
Pair's Outlook
The currency pair is strongly rebounding from 0.9393 and has already easily surmounted a former initial resistance at 0.9425/29. An overhead zone that stretches from 0.9452 up until 0.9473 in turn promises to be much more challenging and thus may halt advancement of USD/CHF, as the area is formed by two commonly used studies, namely 100 and 200-day SMAs, apart from the weekly pivot point.
Traders' Sentiment
Dominance of bulls (73%) over bears (27%) on USD/CHF is explained by the fact that the U.S. Dollar is the most and the Swiss Franc is the least popular currency in the SWFX marketplace. Besides, the portion of buy orders (71%) adds to a bullish outlook of the pair.
© Dukascopy Bank SA