© Dukascopy Bank
"With the economy seemingly avoiding a recession and fears of deflation receding, there's no need for the SNB to act on its cap and the benchmark rate anytime soon"
- UBS AG (based in Bloomberg)
Industry outlook
Provided that the currency couple breaches a resistance at 0.9317, a way towards 0.9595 will be opened. Even though 0.9342 may somewhat slow down the movement, there are no more considerable obstacles.
Traders' sentiment
Most of the market participants (61%) deem USD/CHF as bullish, as they have entered the market with buy trades. At the same time 39% of traders believe the Swiss Franc is going to appreciate relative to the Greenback.
Long position opened
The break of the short-term resistance line 0.9348 would pave the way for the pair to rise up to 0.9391. The clearance of the second daily resistance level would establish a new target for traders at 0.9451.
Short position opened
Major dealers are planning to partially close their short positions if the pair touches upon the first support level at 0.9245. However, if the bearish impetus proves to be strong enough, some of the positions could be squared off at S2 of 0.9185 and at S3 of 0.9142.
© Dukascopy Bank