© Dukascopy Bank
"The [U. S.] economy continues to muddle along at a moderate pace"
- Parthenon Group Inc. (based on Bloomberg)
пЃ® Industry outlook
USD/CHF was able to consolidate at 0.9040 and is expected to gain bullish impetus before attempting to break through 0.9334 once again. Additional support lines are at 0.8950 and 0.8730, while the immediate resistance is at 0.9252.
пЃ® Traders' sentiment
Since the Swiss Franc is the least attractive currency the sentiment in USD/CHF pair is accordingly bearish. 61.66% of opened positions are long, while only 38.34% of them are currently short.
пЃ® Long position opened
Investors should pay close attention to the identified resistance levels for the pair at 0.9236, 0.9266 and 0.9302.
пЃ® Short position opened
The immediate support line is at 0.9170. Should the price step even lower, it will encounter subsequent levels at 0.9134 and 0.9104, where recovery might start.
© Dukascopy Bank