© Dukascopy Bank
"The firms expected the Fed to raise its benchmark interest rate during the second quarter of 2014"
- Bloomberg
пЃ® Industry outlook
In case supports located at 0.9244, 0.9155 (55 day ma) and 0.9058 repel dips, USD/CHF is expected to eventually penetrate 0.9548/49 and then continue to advance until 0.9776/84 or even 0.9950 is reached.
пЃ® Traders' sentiment
Being that the Swiss Franc is the second least popular currency among its major counterparts, USD/CHF pair is overbought, as 74.71% of all the positions are longs and merely 25.29% of them are shorts.
пЃ® 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 0.9473 and 0.9533. The highest level is at 0.9617.
пЃ® Short position opened
The immediate support line is at 0.9329. Should the price step even lower, it will encounter subsequent levels at 0.9245 and 0.9185, where recovery might start.
© Dukascopy Bank