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"The Federal Reserve pushed its balance sheet beyond $3 trillion for the first time this week while undertaking open-ended purchases of Treasuries and mortgage-backed securities to combat 7.8 percent unemployment."
- Bloomberg
Pair's Outlook
USD/CHF gradually depreciates and has already settled beneath the 100-day SMA at 0.9296. Where to the pair is going to move in the upcoming month will be shown by a 0.9253 level, there the 20-day SMA intersects the 55-day SMA. Both levels are very important to identify a trend, and the price is still in the upper part, if it rebounds from that level, we might see and a long term appreciation till 0.95 area, where the long term indicators are located. If the pair slips beneath the SMAs, it would be very possible to see a new low.
Traders' Sentiment
Bullish sentiments have a total control over the USD/CHF pair, since 82% of positions are long and only 18% are short. Pending orders segment is gently bullish, as 57% orders are for a long position and 43% for a short.
© Dukascopy Bank SA