© Dukascopy Bank
"The safe-haven function of the dollar is still alive. The dollar will be strong in 2012"
- Deutsche Bank AG (based on Bloomberg)
пЃ® Industry outlook
For the time being USD/CHF currency pair is likely to continue hovering just below 0.9548/49. In case 0.9244 and 0.9145 (55 day ma) provide sufficient support, the price should surge above the immediate resistance area.
пЃ® Traders' sentiment
In terms of amounts of different positions the USD/CHF currency pair seems to be rather stable. The overwhelming majority of traders keep on staying long, while 25.91% of them expect the Swissie to appreciate relative to the American Dollar.
пЃ® Long position opened
The break of the short-term resistance line 0.9418 would pave the way for the pair to rise up to 0.9440. The clearance of the second daily resistance level would establish a new target for traders at 0.9469.
пЃ® Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 0.9367. If the pair erodes this level, then it might rebound from S2 of 0.9338 or S3 of 0.9316.
© Dukascopy Bank