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"This is almost going to be like a horse race to the finish line on who's going [Bank of England or Fed] to go first now, whereas only three or four months ago that wouldn't have even been close."
- J.P.Morgan Asset Management (based on Businessweek)
Pair's Outlook
USD/CHF refused to move in any direction during the trading session on Wednesday. The pair is still hovering just above the weekly pivot point around 0.9658 and below the Oct high at 0.9687. It looks like bulls are preparing for eventual break-out through the latter level, given that it was already breached last week. Technical indicators are positive on a daily chart and have no bearish signals at all. A successful cross of the closest resistance will open doors towards monthly R1 at 0.9753.
Traders' Sentiment
Long opened positions are still taking up 58% of all, the same as 24 hours ago. Moreover, pending orders jumped to be positive in 83% and 61% of cases in 50 and 100-pip ranges, respectively.
© Dukascopy Bank SA