© Dukascopy
"Declining confidence that timely fiscal measures necessary to place U.S. public finances on a sustainable path will be forthcoming"
- Fitch's (based on Bloomberg)
Industry outlook
Even though USD/CHF is slowing down while approaching a key resistance area at 0.9341/99, the latter levels should eventually give up. However, in case dips reach 0.9173 and 0.9082, the risk of the price falling even lower increases.
Traders' sentiment
The Swiss Franc remains the least attractive currency among majors. Thus the share of long positions in USD/CHF market has gained in numbers up to 66.2% and continues to significantly outweigh the opposition, as merely 33.8% of trades are short.
Long position opened
Investors are suggested to pay close attention to the identified resistance levels for the pair at 0.9297, 0.9368 and 0.9499.
Short position opened
The immediate support line is at 0.9166. Should the price step even lower, it will encounter subsequent levels at 0.9105 and 0.8973, where recovery might start.
© Dukascopy