© Dukascopy Bank SA
"Market attention will move back to economic fundamentals this week, especially given the U.S. employment report. Expectations of a firm reading will likely support the dollar."
- Barclays (based on Bloomberg)
Pair's Outlook
USD/CHF has finally returned to this year's main resistance, which in turn is the key to 2013's high at 0.9840. Being that this level has proven to be respected by the market, we should not rule out a pull-back to 0.9600/0.9550 before 0.97 finally gives in. At the same time, if neither the weekly nor the monthly pivot points provide sufficient demand, the bears may throw the pair back to 0.9460 (55-day SMA and 23.6% Fibo).
Traders' Sentiment
For the time being the traders are unable to reach a consensus—51% of positions are long and 49% are short, meaning the overall sentiment is neutral. A similar picture is observed with the pending orders—46% to buy and 54% to sell the Buck.
© Dukascopy Bank SA