© Dukascopy Bank
- 4Cast Inc. (based on Bloomberg)
Industry outlook
USD/CHF is likely to continue on sliding down. In case 0.8940 is breached, support at 0.8788/72 may fall the next victim, giving the possibility of a dip down to 0.8568. From above the pair is capped by resistances at 0.9066 and 0.9088.
Traders' sentiment
The market remains extremely bullish on USD/CHF, as absolute majority of positions opened (83%) on the currency pair are long. Consequently, short positions constitute merely 17% of the market.
Long position opened
Bullish investors should pay attention to the key resistance levels for intraday trading. R1 is situated at 0.9024, followed by R2 and R3 at 0.9055 and 0.9099, respectively.
Short position opened
Bearish market players will pay attention to a near-term support at 0.8949. The downtrend continuation will establish following targets for traders: S2 at 0.8905 and S3 at 0.8874.
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