© Dukascopy Bank
"The dollar has proven to be very sensitive to relatively minor shifts in economic news and Fed thinking"
- BNP Paribas (based in WSJ)
Industry outlook
In the nearest future the US Dollar is expected to carry on appreciating relative to the Swiss Franc. As a result, USD/CHF is likely to move northwards. The initial goal is at 0.9317, while a subsequent target lies at 0.9595.
Traders' sentiment
Traders' sentiment on USD/CHF has deviated from the status quo to the bearish side, since sell orders (58%) now outnumber buy orders (42%).
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 0.9273, whereas R2 and R3 are situated at 0.9316 and 0.9382, accordingly.
Short position opened
Largest investors might have placed their take profit orders at the key support levels. These levels for intraday trading are situated at 0.9164, 0.9098 and 0.9055.
© Dukascopy Bank