© 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
USD/CHF has effortlessly pierced though a number of resistances and is currently well-placed for additional gains up to 0.9510, which should cap the pair in the near term, but is unlikely to withstand bullish pressure for an extended period of time. Dips should be limited by supports located at 0.9405 and 0.9359, while indicators suggest the present impetus is weakening.
Traders' Sentiment
Being that the Swiss Franc is the least popular currency among its most traded counterparts, overwhelming majority of market participants (67%) have preferred to open long positions on USD/CHF, expecting the Greenback to gain in value against the Franc. At the same time buy orders (80%) considerably outnumber sell orders (20%), 100 pips from the current price.
© Dukascopy Bank