USD/CHF steps towards 0.9405

USD/CHF steps towards 0.9405

'The U.S. does seem to be in a cyclical recovery. It is outperforming all the rest of the major economies globally, and that can't be ignored.' - Trading for Newedge (based on Reuters)

Pair's Outlook

USD/CHF is advancing towards the 55-day SMA at 0.9405, but is not expected to stop there, since the outlook, both in the short and the long term is positive. This idea is also supported by the technical indicators, though the ‘buy' signals provided by them are rather weak. The next resistance areas the currency pair should encounter at 0.9440 and 0.9484/78.

Traders' Sentiment

The gap between the bulls and bears in the market remains moderate—10%, meaning that the sentiment towards USD/CHF is neutral and traders are largely undecided. On the other hand, inequality among buy and sell orders is greater, since the former constitute 58% of the total amount