© Dukascopy Bank
"Raising the limit to 1.30 is a highly unlikely scenario"
- Swissmem (based on Bloomberg)
Industry outlook
Following a fall down to 0.9304 (55 day ma), USD/CHF managed to recover. In order to restore its bullish outlook and challenge 0.9595 again, the price will have to overcome a key resistance at 0.9410/50 first.
Traders' sentiment
The overwhelming majority (78%) of market participants remain bullish on USD/CHF, expecting the price to continue rising. Accordingly, merely 22% are anticipating the pair to tumble.
Long position opened
Major market participants are likely to close their long positions at the key resistance levels. The primary short-term target will be reached at 0.9381. The breakout of this level will pave a way for a bullish run up to 0.9444 and then to 0.9476.
Short position opened
A part of the brokers will close their short positions near initial support level at 0.9286. In case of downtrend continuation, the pair might rebound from the S2 at 0.9254 or S3 at 0.9191.
© Dukascopy Bank