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"The Dollar Index rose earlier today after Federal Reserve Chairman Ben S. Bernanke said yesterday the U.S. risked falling back into recession unless lawmakers averted the so-called fiscal cliff, spurring demand for the safety of the U.S. currency"
- Lloyds Bank (based on Bloomberg)
Pair's Outlook
After rebounding from a 0.9467 level, USD/CHF pair moves down and currently is traded around a 0.9374 level. Looking at a H4 graph, it becomes obvious that price moves in the Bollinger band range since its peak and a recent low is just exactly on the lower line. Thus, the price might slightly rebound till 0.9407, the 20-day SMA, and continue to depreciate further.
Traders' Sentiment
USD/CHF pair has very bullish sentiments on future movements, since the SWFX market is divided by 74% for buy positions and 26% for sell positions. Placed orders segment also have a huge support for a further appreciation, since 70% orders are buy and only 30% are sell.
© Dukascopy Bank SA