© Dukascopy Bank
"If the situation deteriorated further in the foreign- exchange markets, we would have the opportunity to take certain accompanying measures"
- Swiss FM Eveline Widmer-Schlumpf (based on Bloomberg)
пЃ® Industry outlook
As long as the price does not close higher than 0.9400/15 the outlook will remain neutral. Current dip may extend down to 0.9176/74 and 0.9095 (55 day ma), where a long-term recovery is expected to commence and should last until 0.9776/84.
пЃ® Traders' sentiment
The overwhelming majority (80.37%) of market participants continues to hold bullish trades in USD/CHF currency pair, since the Swissie is the top selling currency. Nonetheless, 19.63% of traders expect the Franc to appreciate.
пЃ® Long position opened
FX market participants have put their take profit orders at the key resistance points of intraday trading. Some of the investors might close their deals at 0.9418 and 0.9481. The highest level is at 0.9568.
пЃ® Short position opened
The immediate support line is at 0.9268. Should the price step even lower, it will encounter subsequent levels at 0.9181 and 0.9118, where it might consolidate.
© Dukascopy Bank