© Dukascopy
"If the agreement [on US deficit cuts isn't reached, then that does lead to a spike in risk aversion"
- Commonwealth Bank of Australia (based on Bloomberg)
Industry outlook
Since USD/CHF is supported by 0.9015 and 0.8555/20 from below, the pair is expected to regain its bullish momentum and commence advancing. The primary target is located at 0.9237, while further goals are 0.9317 and 0.9341.
Traders' sentiment
The overwhelming majority of liquidity consumers in USD/CHF market are bullish on the currency pair. 69.35% of them have entered long trades, at the same time only 30.65% expect an alternative scenario.
Long position opened
Investors should pay attention to the identified with the help of the standard pivot point method resistance zones, as they might be useful during intraday trading. The initial resistance level is at the level of 0.9232, whereas R2 and R3 are situated at 0.9297 and 0.9435 accordingly.
Short position opened
Major dealers are planning to partially close their short positions if the pair touches upon the first support level at 0.9093. However, if the bearish impetus proves to be strong enough, some of the positions could be squared off at S2 of 0.9019 and at S3 of 0.8881.
© Dukascopy