USD/CHF preserves bullish outlook

The pair has extended the rally and soared up to 0.9359. USD/CHF is likely to consolidate before recommencing growth, although a pullback should be mild, not far below 0.9297or 0.9250. Afterwards we anticipate continuation of the uptrend, ultimate goal of which now resides at 0.9509, even though 0.9405 and 0.9466 will attempt to hamper a bullish move.

According to SWFX sentiment index, USD/CHF currency pair is overbought (66%), implying an increased possibility of deceleration of a current rally. If to compare buy and sell orders 100 pips from the current price, their numbers are nearly equal, being 47% and 53% of the market, respectively.