© Dukascopy Bank SA
"We have seen a sharp rise in [U.S.] inflation expectations. If you let this get out of hand, then I think we will have a market reaction"
- Richard Fisher, President of the FRB of Dallas (based on Bloomberg)
Pair's Outlook
USD/CHF hesitated at first, but the most recent rebound from 0.9253 is robust and now threatens 0.9328, although the advancement will have a hard time overcoming a cluster of resistances at 0.9400/39, which includes the 200 day SMA and an uptrend support. In case the pair slips, the next support after 0.9253 is at 0.9185/73.
Traders' Sentiment
Present rally of USD/CHF shows rightness of traders, 70% of whom opened long positions on the pair lately, even though 30% of them view this as nothing but a bullish correction and expect the dip to extend. Moreover, 70% of orders are to buy the Dollar, whereas 30% are to sell it against the Swiss Franc.
© Dukascopy Bank SA