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"With the U.S. labour market improving, and the Fed's other mandate being stable prices, these type of inflation pick-ups will make it difficult for the Fed to ignore."
- National Australia Bank (based on CNBC)
Pair's Outlook
The currency pair found support in the face of the weekly pivot point and 20-day SMA at 0.8977/72, meaning USD/CHF could soon approach the monthly R1 once again. If this level falls victim to the current upward momentum, it will greatly increase the chance of the greenback's further appreciation, potentially up to the 2014 high at 0.9160. However, it must be noted that a half of the monthly technical indicators are currently bearish.
Traders' Sentiment
Even though the sentiment is perfectly unchanged compared to the yesterday's figures—64% of positions are long and 36% are short, there was observed a significant growth in the percentage of buy orders, specifically from 49% up to 60%.
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