© Dukascopy Bank
"The [US] economy continued to expand at a modest to moderate pace from mid-February through late March. Hiring was steady or showed a modest increase across many districts"
- The Federal Reserve (based on Bloomberg)
Industry outlook
The US Dollar seems to be weakening against the Swiss Franc after USD/CHF has encountered a formidable resistance at 0.9221. Accordingly, the pair is expected to slide further, down to 0.9110/0.9066, where it will have a greater chance to stabilise.
Traders' sentiment
Most of traders remain long on USD/CHF currency pair, given the ratio of bullish to bearish positions at the moment - 61% to 39%.
Long position opened
The initial resistance level for the pair is 0.9201. If the price continues increasing, the investors will hold longs until the pair climbs up to 0.9231 or 0.9267.
Short position opened
Major FX traders expect the price to test the initial support level at 0.9135. The breakout of this line will pave the way for the price to test S2 at 0.9099 and S3 at 0.9069.
© Dukascopy Bank