© Dukascopy Bank
- Conference Board (based on CNBC)
Industry outlook
Key support area at 0.9080/66 guards lower levels at 0.8960 and 0.8787/64 (200 day ma). These should hold and repel the pair. From above USD/CHF is capped by 0.9300 and 0.9317/31 (55 day ma).
Traders' sentiment
The absolute majority of positions opened (87%) on USD/CHF are long. Therefore only 13% consider the possibility of the Swiss Franc appreciating relative to the Greenback.
Long position opened
While trading this pair, investors should pay attention to the immediate resistance level at 0.9166. If the pair manages to go through this line, further resistances are situated at 0.9219 and 0.9259.
Short position opened
Major market participants with short positions will hold their deals until the price slides down to the initial support level at 0.9073. If the price continues the downtrend, the dealers might wait for the price to depreciate down to 0.9033 or 0.8980.
© Dukascopy Bank