USD/CHF aiming at 55-day SMA

USD/CHF aiming at 55-day SMA

'A strong upward revision to U.S. economic growth estimates and sharp rises in U.S. Treasury yields suggest the so-called 'Septaper' is on track. But price action around major economic events has been erratic, and a big non-farm payrolls disappointment could derail the nascent U.S. dollar recovery.' - DailyFX (based on Bloomberg)

Pair's Outlook

Pair continues to show bullish directional signals and is aiming at 55-day SMA at the moment. Due to the readings of short and medium term technicals we expect it to stall there , we might even see a minor sell off. However, 94 cents is medium to long term target. Dip below the 20-day SAM could cause the pair to trail to 2 month low at 91.4 cents.

Traders' Sentiment

Situation in the market remains almost exactly the same as it was before the weekend-74% or market participants remain long on the pair and 67% (-3% during the weekend) of all pending orders are set to do the same