© Dukascopy Bank
"Even without Hildebrand spearheading the campaign against the franc appreciation, the SNB is likely to defend the 1.20 floor vigorously"
- Swissquote Bank SA (based on Bloomberg)
Industry outlook
Bearish momentum strengthens and is expected to drag the price down to 0.9450. The latter level has little chance withstanding the pressure and should allow for a dip lower, down to 0.9407 or 0.9337/17.
Traders' sentiment
There were no notable changes in traders' sentiment toward the pair, leaving USD/CHF currency pair oversold, as the largest part of positions opened is long (68.33%) whereas the rest (31.67%) is short.
Long position opened
Bullish investors should pay attention to the key resistance levels for intraday trading. R1 is situated at 0.9562, followed by R2 and R3 at 0.9631 and 0.9667, respectively.
Short position opened
Key support for USD/CHF intraday trading is situated at 0.9457. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 0.9421 and 0.9352.
© Dukascopy Bank