© Dukascopy
"Economic conditions are moving upward at an accelerating pace"
- Naroff Economic Advisors (based on CNBC)
Industry outlook
Even though a test of resistances located at 0.9317 and 0.9341/99 may trigger a trade off, the movement to the upside is anticipated to carry on afterwards. USD/CHF is unlikely to fall below 0.8555/50 before it challenges new resistances.
Traders' sentiment
Fluctuations of SWFX Sentiment Index for USD/CHF are insignificant and do not impact the overall situation in the market. 67.86% of traders stay long, while the rest, being 32.14%, stay short on the pair.
Long position opened
The price might rebound from the first resistance level at 0.9370, so major dealers are planning to close some of their long positions near this level. Subsequent goals for bulls are 0.9286 and 0.9253.
Short position opened
A part of the brokers will close their short positions near initial support level at 0.9168. In case of downtrend continuation, the pair might rebound from the S2 at 0.9118 or S3 at 0.9034.
© Dukascopy