© Dukascopy Bank
"Concerns about the global economic future are receding"
- SMBC Nikko Securities Inc. (based on Bloomberg)
пЃ® Industry outlook
Being supported by 0.9244, 0.9148 (55 day ma) and 0.9058, the currency pair is anticipated to repeat its attempt to break above 0.9548/49. The long-term target for USD/CHF is at 0.9776/84, ahead of 0.9950.
пЃ® Traders' sentiment
The fact that the American Dollar is currently the most popular currency among its major counterparts is reflected in USD/CHF pair, where 84.07% of all the positions are longs and merely 15.93% of them are shorts.
пЃ® Long position opened
Leading market participants, who have entered USD/CHF market with a buy trade, are expecting to close their positions at the key resistances at 0.9379, 0.9437 and 0.9474.
пЃ® Short position opened
Major dealers are planning to partially close their short positions if the pair touches upon the first support level at 0.9284. However, if the bearish impetus proves to be strong enough, some of the positions could be squared off at S2 of 0.9247 and at S3 of 0.9189.
© Dukascopy Bank