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"The stall in the (dollar) rally is likely to prompt speculators to unload their dollar positions."
- FPG Securities (based on CNBC)
Pair's Outlook
As expected, the up-trend at 0.95 managed to stay intact, as the monthly PP at 0.9450 provided aid in negating this week's downward momentum. As a result, USD/CHF is now trading at the weekly S1 level. However, the downside risks are still elevated. In case the bulls lose this battle and the price slides through 0.9450, the U.S. Dollar will have plenty of reasons to visit the monthly S1 and 55-day SMA at 0.93.
Traders' Sentiment
Most of the market participants are optimistic regarding the prospects of USD/CHF—62% are planning to profit from Greenback's appreciation. Meanwhile, there are more traders willing to purchase the Buck—68% (51% yesterday).
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