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"At the moment, the economy with strong business sentiment is that of the United States... The dollar is becoming the destination of funds that are escaping stimulus elsewhere."
- Sumitomo Mitsui Bank (based on CNBC)
Pair's Outlook
The U.S. Dollar lunged at the weekly R2, but was forced to retreat back to 0.9450 afterwards. Still, despite this failure and the monthly studies being bearish, the risks are considered to be heavily skewed to the upside. Once the 2013 Sep high is overcome, USD/CHF will be expected to aim or the 2013 Q3 high at 0.9750, which in turn is standing close to the 2013 high at 0.98. At the same time, the support at 0.9378/74 should act as a floor.
Traders' Sentiment
Just like in many other currency pairs, here the sentiment is also the same as yesterday—54% of traders are bulls and the remaining 46% are bears. Concerning the orders, 59% of them are set to purchase the Buck against the Franc.
© Dukascopy Bank SA