© Dukascopy Bank
"We still have a long way to go before the [US] labor market can be said to be operating normally"
- Ben Bernanke (based on WSJ)
Industry outlook
In the short-term USD/CHF is expected to trade sideways, as it did not manage to base above 0.9250. The focus is now on a support at 0.9080/66. In case it is violated, subsequent levels at 0.8960 and 0.8785 should be able to stop dips.
Traders' sentiment
The absolute majority of market participants (80%) have acquired the American Dollar against the Swiss Franc, while every fifth trader expects USD/CHF to fall down.
Long position opened
Initial resistance area for the pair is situated at 0.9147. Subsequent goals for the bullish market payers may be found at 0.9169 and 0.9190.
Short position opened
Bearish market players will pay attention to a near-term support at 0.9104. The downtrend continuation will establish following targets for traders: S2 at 0.9083 and S3 at 0.9061.
© Dukascopy Bank