© Dukascopy Bank SA
"The net takeaway right now is the market is looking at the U.S. economic situation, and while the data has been good, none of the indicators suggest the Fed is in a rush to hike rate."
- BK Asset Management (based on MarketWatch)
Pair's Outlook
Right now USD/CHF is supported by the weekly S1. And if the things stay as they are, namely 0.9550 remains intact, the pair should be able to climb over the weekly PP at 0.9617. Then the U.S. Dollar will likely re-test 0.97. Otherwise, there will be a high chance of the price sliding lower, down to 0.9450, where the bears will be expected to be stopped by a dense demand area, represented by the up-trend, monthly PP and weekly S2.
Traders' Sentiment
There are considerably more people who believe the U.S. Dollar is going to keep gaining ground against the Swiss Franc—63% of positions are long. As for the orders, the buy and sell commands are almost equal in numbers—48 and 52% respectively.
© Dukascopy Bank SA