USD/CHF consolidates around the monthly S1 at 0.9180

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The overall gap between the Republican and Democratic position on revenue increases appears to be narrowing. FX markets are predictably slowing ahead of the year-end holidays, but we suspect the outcome of the fiscal cliff negotiations will be important for the price action over last two weeks of the year"
- BNP Paribas SA (based on Bloomberg)

Pair's Outlook
USD/CHF pair lost a downside momentum, as the price was stopped by the monthly S1 level at 0.9180 after a sharp depreciation previous week. The price approached the lower line of the Bollinger line, which now requires a moment of consolidation, but the price can unexpectedly reverse and start appreciation, as a majority of banks' estimations with respect to the exchange rate are above the 0.95 level.

Traders' Sentiment
The Swiss Franc maintains a weak position, as the sell side in the pair has only 25% of orders. Pending orders segment is bearish, 44% buy orders and 56% sell orders, indicating possible troubles to quickly move up.

© Dukascopy Bank SA
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