© Dukascopy Bank
"Much of the bad scenarios have been priced by the market, so there is not much room for increases in risk aversion to lift the dollar"
- Goldman Sachs (based on CNBC)
Industry outlook
The currency couple has held above 0.9192 (100 day ma) and is expected to crawl higher. In case USD/CHF climbs over 0.9230, bullish impetus may strengthen, allowing for gains up to 0.9400 or even 0.9435.
Traders' sentiment
Despite the Swiss Franc being the least popular currency in the market at the moment, the difference between the portions of long and short positions is rather moderate - 12%.
Long position opened
Investors should pay attention to the identified with the help of the standard pivot point method resistance zones, as they might be useful during intraday trading. The initial resistance level is at the level of 0.9246, whereas R2 and R3 are situated at 0.9290 and 0.9352, accordingly.
Short position opened
Major FX traders expect the price to test the initial support level at 0.9140. The breakout of this line will pave the way for the price to test S2 at 0.9078 and S3 at 0.9034.
© Dukascopy Bank