© Dukascopy Bank
"Traders just aren't that into Swiss Franc"
- CNBC
Industry outlook
The currency pair has tumbled down to a support at 0.9384/17 which is anticipated to withstand bearish pressure. After retesting this level USD/CHF should commence surging and eventually attain 0.9595.
Traders' sentiment
The ratio between the amount of longs and shorts on USD/CHF is rather stable, presently being 74% to 26%, since the Swiss Franc continues to take the last place among other major currencies in terms of popularity.
Long position opened
Leading market participants, who have entered USD/CHF market with a buy trade, are expecting to close their positions at the key resistances at 0.9465, 0.9538 and 0.9579.
Short position opened
Key support for USD/CHF intraday trading is situated at 0.9351. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 0.9310 and 0.9237.
© Dukascopy Bank