© Dukascopy Bank
"We have a cap on the value of the Swiss franc [relative to the Euro] and we will enforce this policy under all circumstances"
- Thomas Jordan, Swiss National Bank President (based on Reuters)
Industry outlook
As long as a key support situated at 0.9066 remains untouched, there is little chance for USD/CHF to turn bearish. Near-term resistance is at 0.9148/68, reinforced by 0.9221. The longer term target lies at 0.9317/42.
Traders' sentiment
The portion of bulls on USD/CHF remains unchanged - at 73%, leaving only 27% to those who anticipate appreciation of the Swiss Franc compared to the Greenback.
Long position opened
While trading this pair, investors should pay attention to the immediate resistance at 0.9171. If the pair manages to go through this level, further resistances are situated at 0.9210 and 0.9248.
Short position opened
Key support for USD/CHF intraday trading is situated at 0.9094. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 0.9056 and 0.9017.
© Dukascopy Bank