© Dukascopy
"I'm not worried about immediate inflation [in the USA] right now. What I'm worried about is the efficacy of our policy as it relates to job creation"
- Richard Fisher (based on Bloomberg)
Industry outlook
Rebound from 0.8910 is anticipated to extend further and USD/CHF should breach the initial resistance at 0.9157. Higher levels will be encountered at 0.9341 and 0.9399. Dips will be limited by a tough support area located at 0.8555/50.
Traders' sentiment
USD/CHF currency pair continues to be overbought with no sign of change in the sentiment. Presently 70.36% of all the positions are long, while shorts, on the other hand, constitute 29.64% of the market.
Long position opened
The break of the short-term resistance line 0.9131 would pave the way for the pair to rise up to 0.9177. The clearance of the second daily resistance level would establish a new target for traders at 0.9308.
Short position opened
The immediate support line is at 0.9000. Should the price step even lower, it will encounter subsequent levels at 0.8915 and 0.8784, where recovery might start.
© Dukascopy