© Dukascopy Bank
"As long as there is risk aversion tied to rising euro- region stress, investors will want to buy francs"
- Banco Bilbao Vizcaya Argentaria SA (based on Bloomberg)
Industry outlook
Violation of 0.9209 opened up the way towards 0.9317/42. Above the latter level the currency pair might set a goal at 0.9595. In the meantime losses should be contained by 0.9209, 0.9150 and 0.9085.
Traders' sentiment
Market participants have preferred to acquire the US Dollar against the Swiss Franc, as a result, at the moment 70% of traders stay long and 30% of them are short on the pair.
Long position opened
Initial resistance area for the pair is situated at 0.9228. Subsequent goals for the bullish market payers may be found at 0.9265 and 0.9327.
Short position opened
Largest investors might have placed their take profit orders at the key support levels. These levels for intraday trading are situated at 0.9129, 0.9067 and 0.9030.
© Dukascopy Bank