Technical Analysis USD/CHF held down by 0.91
Technical Analysis USD/CHF for August 7, 2014
Pair’s Outlook
The resistance at 0.9117/0.9099 proves to be quite strong, as USD/CHF is unable to reach this year’s high for a second week, being only some 50 pips away from the peak. However, the daily and weekly indicators are bullish, meaning there is still a chance the bears are going to give in and allow the rate to re-visit 0.9156. But at the same time the longer-term bullish perspectives are becoming less and less pronounced.
Traders’ Sentiment
A substantial majority (73%) of the SWFX traders expects appreciation of the U.S. Dollar relative to the Franc. And the buying pressure may intensify, since 72% of pending orders (100 pips from the spot) are to enter long positions.
Source: Dukascopy
