© Dukascopy Bank
"The minimum exchange rate of 1.20 francs per euro remains front and center of the SNB's monetary policy"
- SNB (based on Bloomberg)
Industry outlook
The pair is currently moving away from 0.9066 and will soon encounter 0.9206 (20 day sma). Overcoming the latter level would increase the possibility of extension of the rally up to 0.9342 and 0.9595.
Traders' sentiment
According to SWFX sentiment index, the majority of traders (70%) have preferred to open bullish positions on USD/CHF, expecting the US Dollar to gain in value.
Long position opened
Bullish investors should pay attention to the key resistance levels for intraday trading. R1 is situated at 0.9175, followed by R2 and R3 at 0.9218 and 0.9258, respectively.
Short position opened
In case of dips, another rally may start after rebounding from the initial support level at 0.9092. However, assuming that the bearish momentum does not weaken, investors will pay attention to the lower support levels at 0.9052 and 0.9009.
© Dukascopy Bank