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Pair's Outlook
USD/CHF has formed a symmetrical triangle pattern and the currency pair is presently trading close to the apex of the figure, implying that the break-out is just around the corner. The path of the least resistance is to the downside, being that above are the 100-day SMA and the monthly pivot point. Meanwhile, if the price declines, there will be no strong supports until 0.89 is reached.
Traders' Sentiment
Bullish with respect to the U.S. Dollar traders continue to dominate the market—at the moment they take up as much as 75% of the market, leaving bears in a distinct minority with merely 25% of it. On the other hand, the portion of buy orders decreased, from 69% down to 63%.
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