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"I do not think this option [QE3] can be taken off the table. QE3 will work under the right circumstances. But I don't believe such circumstances prevail at his time"
- Dennis Lockhart, Atlanta Federal Reserve President (based on CNBC)
Pair's Outlook
USD/CHF seems to have terminated its bearish correction, which has stopped ahead of an initial support located at 0.9359. In case of an unlikely scenario when the currency pair breaches the latter level, it may target 0.9307 first, then 0.9216/11. Nonetheless, the idea of an additional attempt of USD/CHF to overcome 0.9499/0.9507 is reinforced by the majority of daily technical indicators, which should be accounted for.
Traders' Sentiment
More than two thirds (69%) of all the traders who have opened positions on USD/CHF currency pair remain bullish, whereas holders of bearish positions are in distinct minority, forming 31% of the market, since the Swiss Franc is the second least popular currency in the market after the Yen.
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