© Dukascopy Bank
"In the near-term, the SNB may have to intervene to defend their credibility, but whether this policy will continue to work remains to be seen"
- Morgan Stanley (based on Bloomberg)
Industry outlook
The currency pair is facing a formidable resistance at 0.9234, thus we are likely to observe a temporary bearish correction down to 0.9167/47 or even 0.9075, before the bullish momentum is reignited.
Traders' sentiment
Traders' sentiment on USD/CHF is little changed since yesterday. The majority, being 58%, remains bullish on the pair, while 42% believe in an alternative scenario.
Long position opened
FX market participants have put their take profit orders at the key resistance points of intraday trading. Some of the investors might close their deals at 0.9231 and 0.9266. The highest level is at 0.9310.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 0.9152, 0.9108 and 0.9073.
© Dukascopy Bank