Technical Analysis USD/CHF charges at 0.91
Technical Analysis USD/CHF for August 12, 2014
Pair’s Outlook
The currency pair is presently recovering, but it has to gain a foothold above 0.91 to confirm its bullish intentions. However, even if it does, there will still be the 2014 high standing in the way of a rally. But an extension of an up-move beyond 0.9156 will most likely imply a test of 0.9251, a level last seen on Nov 7. For this scenario to be realised, the key supports at 0.90 (up-trend and 55-day SMA) must not be breached.
Traders’ Sentiment
An overwhelming majority (72%) of the SWFX traders believe USD/CHF pair is going to preserve the recently acquired upward momentum, although the share of bulls is relatively smaller than yesterday (75%).
Source: Dukascopy
