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"While there is a moderate chance of additional QE at this [August] meeting, we think it is more likely that the Fed will announce a third round of asset purchases in September"
- BofA Merrill Lynch (based on CNBC)
Pair's Outlook
Bullish impetus of USD/CHF after bouncing off 0.9702/0.9692 was not strong enough in order to penetrate 0.9809/17 at the very first attempt. Accordingly, the pair is likely to stay below the resistance line for a while and it still preserves potential to overcome it after some time. Additional resistances are situated at 0.9906/23 and 1.0042/86.
Traders' Sentiment
Three quarters of market participants are currently staying long on USD/CHF, while merely 25% of them deem the Swiss Franc as bullish, being that it is the least frequently bought currency (in 25% of cases). At the same time the ratio between buy and sell orders on the currency pair is 43% to 57%, respectively.
© Dukascopy Bank SA