© Dukascopy Bank
"The franc move has a lot to do with the growing skepticism surrounding Europe's rescue plan"
- Swissquote Bank SA (based on Bloomberg)
пЃ® Industry outlook
Since a key resistance area has been overcome by USD/CHF, the pair is likely to surge further, up to subsequent levels at 0.9776/84, while longer term target is at 0.9950. Supports may be found at 0.9331/17 and 0.9240.
пЃ® Traders' sentiment
USD/CHF currency couple is overbought, implying the possibility of the price sliding down. 61.68% of the market participants are holding long trades at the moments, while 38.22% keep on being short on the pair.
пЃ® Long position opened
FX market participants have put their take profit orders at the key resistance points of intraday trading. Some of the investors might close their deals at 0.9508 and 0.9561. The highest level is at 0.9644.
пЃ® Short position opened
A part of the brokers will close their short positions near initial support level at 0.9372. In case of downtrend continuation, the pair might rebound from the S2 at 0.9289 or S3 at 0.9236.
© Dukascopy Bank