© Dukascopy Bank SA
"The market's interpretation is that perhaps it had better re-price those expectations [on trajectory of interest rate rises]."
- National Australia Bank (based on Reuters)
Pair's Outlook
Although initially there were concerns regarding the ability of USD/CHF to stay above 0.93, in the end the market proved to respect the newly established support represented by the monthly R2. Accordingly, the currency pair should soon cross the weekly R1 and then test formidability of the resistance zone around 0.9450 (2013 Sep high) that is currently keeping earlier 2013 highs safe from attacks of the bulls.
Traders' Sentiment
While the sentiment of the SWFX market participants remains neutral with respect to USD/CHF, since only 54% of traders are long, the share of buy commands is expanding, and it has already reached a substantial level—65%.
© Dukascopy Bank SA