© Dukascopy Bank SA
"If the dollar were to strengthen a lot, it would have consequences for growth."
- William Dudley, President of FRB of New York
Pair's Outlook
The U.S. Dollar continues to consolidate beneath 0.94, being unable to climb over the monthly R3 and 2013 Sep high. But at the same time, none of the important supports have been broken, and the medium-term positive outlook will not be invalidated unless the up-trend and monthly R2 at 0.93 are broken to the downside. USD/CHF will then be expected to fall down to 0.91—monthly S1, 100-day SMA and six-month bullish line.
Traders' Sentiment
Although USD/CHF is trading flat, the difference between the bulls and bears is now significant—14 percentage points. Concerning the orders, 69% of them are set to buy the U.S. Dollar against the Swiss Franc.
© Dukascopy Bank SA