© Dukascopy Bank
- UBS Wealth Management (based on Bloomberg)
пЃ® Industry outlook
Following a contraction which should be halted by 0.9300 USD/CHF is likely to carry on moving upwards while encountering resistances at 0.9548 and 0.9572, as the long-term target is situated at 0.9776/84.
пЃ® Traders' sentiment
Since the Swiss Franc continues on being the least attractive currency, the sentiment in USD/CHF market is rather bullish, as the largest part (74.06%) of the market consists of long trades and the minority (25.94%) is being formed by short ones.
пЃ® Long position opened
Investors should pay close attention to the identified resistance levels for the pair at 0.9397, 0.9437 and 0.9460.
пЃ® Short position opened
The immediate support line is at 0.9334. Should the price step even lower, it will encounter subsequent levels at 0.9311 and 0.9271, where recovery might commence.
© Dukascopy Bank