© Dukascopy Bank
"We are highly confident the [US debt] deal will get done"
- Marathon Asset Management LP (based on Bloomberg)
Industry outlook
Considering the long-term perspectives, USD/CHF is expected to continue trading well above 0.9377/17. Ultimately, the price should climb up to 0.9595 and surpass this threshold. The immediate resistance and support are located at 0.9572 and 0.9448.
Traders' sentiment
The vast majority (75%) of positions opened on USD/CHF are bullish, implying the bullish sentiment for the currency couple. However, a quarter of traders believe in an alternative scenario and stay short on it.
Long position opened
The break of the short-term resistance line 0.9562 would pave the way for the pair to rise up to 0.9632. The clearance of the second daily resistance level would establish a new target for traders at 0.9689.
Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 0.9435. If the pair erodes this level, then it might rebound from S2 of 0.9378 or S3 of 0.9308.
© Dukascopy Bank