© Dukascopy
- Jean-Pierre Danthine (based on Bloomberg)
Industry outlook
Despite the fact that resistance at 0.9157 has initially repelled USD/CHF, this level will be conquered by the pair once the price bounces off from 0.8884. Above 0.9157 USD/CHF should surge up to 0.9317, then 0.9341/99.
Traders' sentiment
According to the SWFX sentiment index the vast majority of traders prefer acquiring the American dollar against the swissie. 73.78% of market participants are longs, while 26.22% are short on USD/CHF.
Long position opened
Initial resistance area for the pair is situated at 0.9069. Subsequent goals for the bullish market payers may be found at 0.9141 and 0.9272.
Short position opened
Major FX traders expect the price to test the initial support level at 0.8939. The breakout of this line will pave the way for the price to test S2 at 0.8880 and S3 at 0.8750.
© Dukascopy