© Dukascopy Bank SA
- Citigroup (based on CNBC)
Pair's Outlook
An attempt of USD/CHF to surpass the June low after receiving a strong boost turned out to be unsuccessful. Still, the currency pair is not leaving the resistance area, it stays above the weekly R1 and continues to put pressure on 0.9128. On the other hand, judging by the signals on the daily and weekly time-frames, the U.S. Dollar is unlikely to rise in value in the nearest future.
Traders' Sentiment
Although the price of the U.S. Dollar increased, apparently, some of the traders were encouraged by the rally and decided to bet on the buck's further appreciation relative to the Swiss Franc, since the portion of long positions has grown from 66% up to 71% within the last 24 hours.
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