© Dukascopy
"I am skeptical that further asset purchases will produce much gain in terms of increased economic activity"
- Dennis Lockhart (based on Bloomberg)
Industry outlook
Test of a strong resistance situated at 0.9341/99 has triggered a sell off down to 0.9173, though an extension of this move is not expected. Eventually, attempts of USD/CHF are likely to succeed and the pair will finally climb over 0.9341/99.
Traders' sentiment
Provided that the Swiss Franc is the second most unpopular currency after the Yen, USD/CHF market is much more bullish than bearish. 69.13% of trades are long, whereas only 30.87% of all positions are currently short.
Long position opened
The break of the short-term resistance line 0.9257 would pave the way for the pair to rise up to 0.9303. The clearance of the second daily resistance level would establish a new target for traders at 0.9408.
Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 0.9152. If the pair erodes this level, then it might rebound from S2 of 0.9093 or S3 of 0.8988.
© Dukascopy