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"Among the major currencies, the U.S. dollar has the most room to rally at the moment."
- U.S. Forex (based on Reuters)
Pair's Outlook
Just as yesterday or earlier this August USD/CHF's efforts to resume advancement are fruitless—the resistance at 0.91 continues to act as a ceiling and is not letting the pair to re-visit this year's high. However, it is too early to claim that the bullish momentum is no longer topical and that we are about to witness a reversal. There is still a large number of supports between 0.90 and 0.89 ready to help the Greenback to recover.
Traders' Sentiment
Despite the exchange rate staying calm, the distribution between the longs and shorts became even more skewed in favour of the former—75%. And the buying pressure may only increase, being that 83% of pending orders are to purchase the Greenback.
© Dukascopy Bank SA