© Dukascopy Bank
"Barclays economists are broadly in line with the robust consensus forecasts, which, if they materialize, are likely to support the U.S. dollar"
- Barclays (based on WSJ)
Industry outlook
USD/CHF has violated a support at 0.9027/16 and may continue to trade lower. In order to negate bearish pressure the pair will have to close above 0.9066, then it would increase the possibility of the price surging beyond 0.9162 (20 day ma).
Traders' sentiment
Being that the American Dollar is the most popular currency at the moment, USD/CHF currency pair is perceived as bullish by most of the traders (72%) of SWFX marketplace.
Long position opened
Investors should pay attention to the identified with the help of the standard pivot point method resistance zones, as they might be useful during intraday trading. The initial resistance level is at the level of 0.9053, whereas R2 and R3 are situated at 0.9089 and 0.9111, accordingly.
Short position opened
Key support for USD/CHF intraday trading is situated at 0.8995. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 0.8973 and 0.8937.
© Dukascopy Bank