USD/CHF looks towards 2014 high
Pair’s Outlook
Since USD/CHF closed above 0.90, it is already unlikely that the price is going to re-test the 2014 lows at 0.87. There are also other bullish signs, such as the 55-day SMA being above the 200-period moving average, and the 100-day SMA will also probably get above its longer-term counterpart soon as well. On the other hand, the exchange rate is currently fluctuating far away from this year’s high and the monthly indicators remain bearish.
Traders’ Sentiment
The bullish traders continue to take up a dominant position in the market, being that 71% of open positions are long. Moreover, if we consider the orders set one figure from the spot, the share of the buy ones increased, namely from 43% to 49%.
Source: Dukascopy
