© Dukascopy Bank
"The psychology around the dollar does appear to be changing and I'm confident that dollar strength will probably continue"
- Gareth Berry, FX strategist at UBS AG (based on Bloomberg)
Industry outlook
As long as supports situated at 0.9141 and 0.9066 manage to withstand bearish pressure, long-term outlook will remain bullish for the currency couple. Resistances will be encountered at 0.9228, 0.9300 and 0.9317.
Traders' sentiment
The fact that the Swiss Franc is the least popular currency among its major counterparts is reflected in USD/CHF, where 62% of traders stay long and 38% stay short on it.
Long position opened
The initial resistance level for the pair is 0.9221. If the price continues increasing, the investors will hold longs until the pair climbs up to 0.9290 or 0.9325.
Short position opened
Major FX traders expect the price to test the initial support level at 0.9117. The breakout of this line will pave the way for the price to test S2 at 0.9082 and S3 at 0.9013.
© Dukascopy Bank