© Dukascopy Bank
"Fed directors noted that recent economic data had improved somewhat, but they were cautious about the outlook and expected only moderate growth over the coming quarters"
- Fed meeting minutes
- Fed meeting minutes
Industry outlook
USD/CHF has retested a tough support at 0.9080/66 and should hold above it for now. However, failure here would imply a sell off down to 0.8960 or even 0.8787/67 (200 day ma). Resistances at 0.9300, 0.9314 and 0.9317/31 presently cap the price.
Traders' sentiment
The share of long positions on USD/CHF has increased. At the moment bulls constitute 88% of the market, whereas bears form merely 12% of it.
Long position opened
The initial resistance level for the pair is 0.9153. If the price continues increasing, the investors will hold longs until the pair climbs up to 0.9183 or 0.9219.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 0.9087, 0.9051 and 0.9021.
© Dukascopy Bank