© Dukascopy Bank
"If European policy makers make a deal, get Greece the money, and if markets cheer on Monday, the SNB is going to wipe the sweat off its brow"
- Swissquote Bank SA (based on Bloomberg)
Industry outlook
USD/CHF is expected to bounce off 0.9080 and commence recovering. Even though resistances at 0.9250 and 0.9340 cap the pair from above, a long-term target at 0.9595 should be reached.
Traders' sentiment
The absolute majority (85%) of market participants are holding bullish trades on USD/CHF, foreseeing pair's advancement. However, the currency couple should be approached with caution, since the price may dip once traders start closing positions.
Long position opened
While trading this pair, investors should pay attention to the immediate resistance level at 0.9231. If the pair manages to go through this level, further resistances are situated at 0.9286 and 0.9339.
Short position opened
Bearish market players will pay attention to a near-term support at 0.9123. The downtrend continuation will establish following targets for traders: S2 at 0.9070 and S3 at 0.9015.
© Dukascopy Bank