© Dukascopy Bank SA
"The Republican party is notoriously opposed to Fed's [Quantitative Easing] policy and will become quite aggressive at pressuring US monetary officials to change their course."
- BK Asset Management (based on MarketWatch)
Pair's Outlook
USD/CHF continues to develop in a mixed environment for a third consecutive day, as the pair is still well supported by the weekly pivot point at 0.9582. Additionally, the 2014 high at 0.9687 limits the pair's movements to the upside. Therefore, we can expect a prolonged period of horizontal development of this cross, as two last attempts to cross the 2014 high turned to be unsuccessful. However, technical studies remain bullish in the short-term, while monthly indicators suggest the Dollar will be losing value.
Traders' Sentiment
In addition to market participants, who remain bullish on USD/CHF perspectives in the majority of cases (57%), the vast part of pending orders also turned to the positive side and are set to buy the Dollar.
© Dukascopy Bank SA