© Dukascopy Bank
"This is a good entry level for this trade [buying USD/CHF] as better data translates in to a stronger dollar via interest rate expectations"
- Royal Bank of Scotland Plc. (based on Bloomberg)
Industry outlook
There is little chance of the pair closing below 0.9066, however, we cannot rule out the possibility of a drop down to 0.8998. At the same time resistances at 0.9179, 0.9205 and 0.9300 will attempt to prevent USD/CHF from recovering.
Traders' sentiment
The share of bullish market participants has risen up to 69%. Accordingly, the portion of bearish traders has decreased down to 31%.
Long position opened
Initial resistance area for the pair is situated at 0.9146. Subsequent goals for the bullish market payers may be found at 0.9177 and 0.9200.
Short position opened
The immediate support line is at 0.9092. Should the price step even lower, it will encounter subsequent levels at 0.9069 and 0.9038, where recovery might start.
© Dukascopy Bank