© Dukascopy Bank SA
- Union Bank NA (based on Bloomberg)
Pair's Outlook
USD/CHF sharply appreciates for the second consecutive trading session. The pair has easily breached a level of the 20-day SMA and the weekly PP at 0.9184, and the monthly PP level at 0.9204. Currently the pair is testing the 55-day SMA, which has merged with the weekly S1 at 0.9253. A settlement above this SMA would indicate a buy signal and a potential move to 0.94 area, which is the consensus of the top banks for the first quarter of 2013.
Traders' Sentiment
SWFX market traders increase their bullish positions, as 87% of all opened positions are long and 13% are short. Pending orders segment is rather neutral comparing with the spot market, as 56% of orders are buy and 44% are sell.
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