© Dukascopy Bank
"Most observers would agree that the euro floor has been in the [Swiss] national benefit so it's unlikely to be challenged"
- Swissquote Bank SA (based on Bloomberg)
Industry outlook
USD/CHF is anticipated to rally up to 0.9548/49 in the nearest future, as it has effortlessly pierced through a preceding resistance. Longer term target is at 0.9774/84. Dips should be covered by supports at 0.9317/04 and 0.9244.
Traders' sentiment
Being that the American Dollar is the second most preferable currency after the Euro in the market, the largest part of traders (65.57%) is bullish on USD/CHF, while the remaining part (34.43%) is bearish.
Long position opened
Investors should pay attention to the identified with the help of the standard pivot point method resistance zones, as they might be useful during intraday trading. The initial resistance level is at the level of 0.9570, whereas R2 and R3 are situated at 0.9618 and 0.9698, accordingly.
Short position opened
Major FX traders expect the price to test the initial support level at 0.9442. The breakout of this line will pave the way for the price to test S2 at 0.9362 and S3 at 0.9314.
© Dukascopy Bank