© Dukascopy Bank
"Even at the current rate, the Swiss franc is still high and should continue to weaken over time"
- Philipp Hildebrand (based on Bloomberg)
пЃ® Industry outlook
USD/CHF has rebounded from 0.9550 and now is likely to contract down to 0.9280 which should be able to reignite bullish momentum, while additional support will be provided by 0.9176. The long-term goal lies at 0.9776/84, ahead of 0.9950.
пЃ® Traders' sentiment
The Swiss Franc continues to be the least attractive currency in the market among its major counterparts. This is reflected in USD/CHF as well, as 67.84% of traders anticipate the Greenback to appreciate, while only 32.16% of them believe in an alternative scenario.
пЃ® Long position opened
The break of the short-term resistance line 0.9502 would pave the way for the pair to rise up to 0.9604. The clearance of the second daily resistance level would establish a new target for traders at 0.9661.
пЃ® Short position opened
A part of the brokers will close their short positions near initial support level at 0.9343. In case of downtrend continuation, the pair might rebound from the S2 at 0.9286 or S3 at 0.9184.
© Dukascopy Bank