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- FOMC minutes (based on Bloomberg)
Pair's Outlook
USD/CHF consolidates around the upper Bollinger band at 0.9267. The price was appreciating very rapidly throughout the last week, thus technical indicators suggested occurrence of a correction. Currently, the price appreciates further and the next important resistance level will be at 0.9288, where the 55-day SMA is situated. Settlement above this level would be a signal for a buy position, which would be supported by the aggregate consensus of investment banks, which suggest a 0.95 level in the first quarter of 2013.
Traders' Sentiment
SWFX market traders expect to see a great rally of USD/CHF, since 84% of positions are long and 16% are short. Pending orders market expresses a neutral position, since 51% of orders are buy and 49% are sell.
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