© Dukascopy Bank
"Over a period of time we want to move inflation always back toward two percent"
- Ben Bernanke, Federal Reserve Chairman (based on Bloomberg)
Industry outlook
The American Dollar - Swiss Franc currency pair is anticipated to remain stable near a tough support situated at 0.9080. Should USD/CHF pierce though 0.9244 in the medium term, it may then climb as high as 0.9340 or even 0.9595 as a result.
Traders' sentiment
Being that the American Dollar remains the most popular currency, USD/CHF currency couple is overbought in SWFX market. Bulls constitute 84% and bears constitute 16% of the total amount of positions on the pair.
Long position opened
The break of the short-term resistance line 0.9205 would pave the way for the pair to rise up to 0.9245. The clearance of the second daily resistance level would establish a new target for traders at 0.9282.
Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 0.9128. If the pair erodes this level, then it might rebound from S2 of 0.9091 or S3 of 0.9051.
© Dukascopy Bank