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"Last week it was all about the dollar but this week, the opportunities will be in relative value plays."
- BK Asset Management (based on MarketWatch)
Pair's Outlook
As it turned out, USD/CHF did not have to slide down to 0.90 in order to terminate the correction that was started last week. Right now the currency pair is facing the weekly PP, but a real threat to the bullish ambitions of the Dollar is posed by this year's high. And while the near-term technical indicators are in favour of a rally to this peak, longer-term prospects are less clear, but a breach of 0.9156 should pave the way towards 0.9250.
Traders' Sentiment
There are now relatively more bulls (74%) in the market than at the time of the yesterday's report (72%). In the meantime, the share of buy orders is significantly lower than 24 hours ago, as it fell from 67 to 57%.
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