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- Commerzbank AG
Industry outlook
Provided that USD/CHF gets a foothold above 0.9548/49, the outlook will be positive for the pair. The price will then surge up to 0.9774/84, while 0.9950 lies even higher. Supports at 0.9526 and 0.9484 should cover dips.
Traders' sentiment
Since the Swiss Franc stays as the least popular currency among its major counterparts, the overwhelming majority of market participants (69.72%) holds bullish trades on USD/CHF, while the remaining part (30.28%) expects the Swissie to appreciate.
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 0.9584 and 0.9617. The highest level is at 0.9657.
Short position opened
A part of the brokers will close their short positions near initial support level at 0.9511. In case of downtrend continuation, the pair might rebound from the S2 at 0.9471 or S3 at 0.9438.
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