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"The FOMC expects unemployment to remain well above target by the end of 2014. This means that there is scope for further monetary easing down the road, especially if the recovery falters"
- Rabobank (based on Reuters)
Industry outlook
A clash of the price and a key support at 0.9066 should lead to another leg up of the pair. Robust reignition of bullish momentum would ensure USD/CHF attaining 0.9317/42, before attempting to reach 0.9595 in the long term.
Traders' sentiment
Since the Greenback is the second most popular currency after the Euro and long positions constitute 75% of the total amount of trades on USD/CHF, sentiment is distinctly bullish on the pair.
Long position opened
The price might rebound from the first resistance level at 0.9115, so major dealers are planning to close some of their long positions near this level. Subsequent goals for bulls are 0.9139 and 0.9158.
Short position opened
Bearish market players will pay attention to a near-term support at 0.9072. The downtrend continuation will establish following targets for traders: S2 at 0.9053 and S3 at 0.9029.
© Dukascopy Bank