© Dukascopy
"There's skepticism about the industrial economy and machinery stocks, but robust activity suggests the risk of a double-dip recession [in the USA] is less likely"
- Jefferies & Co. (based on Bloomberg)
Industry outlook
USD/CHF has failed to gain a foothold above 0.9082 as it struggled at 0.9157. The pair is thus likely to rebound from 0.8876/57 and make another attempt to climb over 0.9157 and approach 0.9317 within the next 3 months.
Traders' sentiment
The overwhelming majority of traders, namely 72.66% of the market, are still bullish on USD/CHF currency pair. Nevertheless, 27.34% of traders believe the greenback might depreciate and lose value comparatively to the Swiss franc.
Long position opened
Leading market participants, who have entered USD/CHF market with a buy trade, are expecting to close their positions at the key resistances at 0.9133, 0.9208 and 0.9341.
Short position opened
Bearish traders are suggested to take into account the key support levels in order to close their deals. The primary support is 0.9000. If the pair erodes this level, then it might rebound from S2 of 0.8942 or S3 of 0.8809.
© Dukascopy