© Dukascopy Bank
- Sumino Kamei, BTMU (based on Reuters)
The Greenback is likely to recommence strengthening against the Swiss Franc, as USD/CHF has already formed a base at 0.8931. Bullish targets lie at 0.9253 (55 day ma) and at 0.9317, while 0.9088 and 0.9075 underpin the pair from below.
Traders' sentiment
The share of buy orders exceeds the portion of sell orders on USD/CHF currency couple, pointing to a slightly bullish sentiment of traders.
Long position opened
The break of the short-term resistance line 0.9192 would pave the way for the pair to rise up to 0.9219. The clearance of the second daily resistance level would establish a new target for traders at 0.9237.
Short position opened
Major market participants with short positions will hold their deals until the price slides down to the initial support level at 0.9147. If the price continues the downtrend, the dealers might wait for the price to depreciate down to 0.9129 or 0.9102.
© Dukascopy Bank