© Dukascopy Bank
"Things are getting better [in the USA], it's just going to take some time. We're making steady progress"
- Tom Harkin, an Iowa Democrat (based on Bloomberg)
Industry outlook
A one-day consolidation appears to be over, meaning that USD/CHF should resume its advancement towards 0.9595. However, at first it will have to encounter and then erode resistances situated at 0.9300/17, 0.9335/42 and 0.9407.
Traders' sentiment
The amount of bullish trades (66%) continues to significantly exceed the amount of the bearish ones (34%), meaning that the pair is currently overbought.
Long position opened
Initial resistance area for the pair is situated at 0.9299. Subsequent goals for the bullish market payers may be found at 0.9314 and 0.9336.
Short position opened
A part of the brokers will close their short positions near initial support level at 0.9262. In case of downtrend continuation, the pair might rebound from the S2 at 0.9240 or S3 at 0.9225.
© Dukascopy Bank