© Dukascopy Bank
"Movements in the franc are minimal and the market is looking forward to the key SNB meeting"
- Credit Suisse Group AG (based on Bloomberg)
пЃ® Industry outlook
The interim goal for USD/CHF is at 0.9776/84, while the main target lies at 0.9950, since bullishness of the pair is supported by the majority of short- and mid-term indicators. Supports are positioned at 0.9400, 0.9331/17 and 0.9240.
пЃ® Traders' sentiment
Provided that the Swiss Franc is the least popular currency in the market relative to the other currencies, traders' sentiment on USD/CHF pair is bullish with the ratio of long positions to short being 59.31% to 40.69%, respectively.
пЃ® Long position opened
Bullish investors should pay attention to the key resistance levels for intraday trading. R1 is situated at 0.9572, followed by R2 and R3 at 0.9609 and 0.9681 respectively.
пЃ® Short position opened
A part of the brokers plans on closing their short positions near the initial support level at 0.9463. In case of downtrend continuation, the pair might rebound from the S2 at 0.9391 or S3 at 0.9354.
© Dukascopy Bank