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- John Williams, president of the San Francisco Federal Reserve Bank (based on CNBC)
Industry outlook
Being that USD/CHF has managed to remain above 0.9080/66, the pair may commence recovering. Should it overcome a key resistance located at 0.9250/63, the following levels at 0.9316 (55 day ma) and 0.9595 may be reached next.
Traders' sentiment
Due to the fact that most of the market participants prefer acquiring the American Dollar, USD/CHF currency pair is overbought to a large extent (79%), increasing the possibility of a dip of the pair.
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 0.9186. The breakout of this level will pave a way for a bullish run up to 0.9208 and then to 0.9250.
Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 0.9122. If the pair erodes this level, then it might rebound from S2 of 0.9080 or S3 of 0.9058.
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