USD/CHF preserves strong upward momentum
Pair’s Outlook
USD/CHF continues to advance and looks ready to jump over the 200-day SMA, as suggested by the daily technical indicators. This is going to be an important accomplishment for the currency pair and will most likely imply further appreciation of the greenback against the Franc. The potential targets will then be the monthly pivot points at 0.9041 and 0.9130. In the meantime, the monthly R1, coupled with the weekly PP, acts as a support level at 0.8921/12.
Traders’ Sentiment
The bullish sentiment with respect to USD/CHF may not be as strong as yesterday, when 75% of positions were long, but a substantial majority (70%) of open positions still imply appreciation of the U.S. Dollar against its counterpart.
Source: DukascopyBankSA
