© Dukascopy Bank
"Central bank purchases are unlikely to replace conventional interest rate policy in normal times"
- BIS (based on Bloomberg)
пЃ® Industry outlook
USD/CHF currency couple should carry on hovering for now just below a strong resistance area located at 0.9341/99, while being supported by 0.9176. Additional support lines are situated at 0.9040 and 0.8950.
пЃ® Traders' sentiment
Since the Swiss Franc presently is the least attractive currency among its major counterparts, USD/CHF market is overwhelmed with bullish trades. 72.9% of market participants expect the price to rise, while only 27.1% reckon otherwise.
пЃ® Long position opened
Major market participants are likely to close their long positions at the key resistance levels. The primary short-term target will be reached at 0.9282. The breakout of this level will pave a way for a bullish run up to 0.9334 and then to 0.9385.
пЃ® Short position opened
In case of dips, another rally may start after rebounding from the initial support level at 0.9179. However, assuming that the bearish momentum does not weaken, investors will pay attention to the lower support levels at 0.9128 and 0.9076.
© Dukascopy Bank