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- Steve Bell, Bipartisan Policy Center (based on Bloomberg)
Pair's Outlook
USD/CHF pair has breached a down-side resistance yesterday and continues to move towards a 0.9276 level, where the Bollinger band and the 55-day SMA are located. Last month, the pair made two checks of the 55-day SMA and both were unsuccessful, but this time a break between the last test was very short and most probably due to an increased bullish power in the pair's sentiments. Settlement above the 55-day SMA would be a signal for a buy position, supported by a Bollinger band's location.
Traders' Sentiment
The Swiss Franc loses even more of its share in SWFX market, since 84% of positions are long, supporting the U.S. Dollar, and only 16% are short. Pending orders segment is slightly bullish, as 53% are buy and 47% are sell.
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