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- Steve Bell, Bipartisan Policy Center (based on Bloomberg)
Pair's Outlook
USD/CHF pair is bounded by a down-side resistance at 0.9240. The pair has tested this resistance during the previous week, but the Bollinger band prevented a further appreciation. Situation is really vague now, as USD/CHF is just on the resistance line and it is just the second bullish candle after the previous bearish week. Also the price is in the upper part of the Bollinger band, but still beneath the 55-day SMA, thus more signals should be awaited for making a rational decision.
Traders' Sentiment
The Swiss Franc remains totally sold, since the buy side has 81% of positions and the sell side has 19%. Pending orders segment is more balanced, but is still bullish, as 61% of orders are long and 39% are short.
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