© Dukascopy Bank
"Today's figures show that the SNB did the right thing by imposing the cap. Not only did it stabilize the Swiss economy, but as a side effect also helped the central bank reverse losses"
- Bank Sarasin (based on Bloomberg)
Industry outlook
USD/CHF went into a nosedive below 0.9088 and may slide even lower, down to 0.8931, where it is anticipated to recommence recovering. Resistances are located at 0.9162, 0.9203 and 0.9253/63.
Traders' sentiment
The difference in numbers between buy and sell orders of SWFX marketplace participants is presently not large - 7%, signifying mildly bullish sentiment.
Long position opened
While trading this pair, investors should pay attention to the immediate resistance level at 0.9146. If the pair manages to go through this level, further resistances are situated at 0.9213 and 0.9250.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 0.9042, 0.9005 and 0.8938.
© Dukascopy Bank