© Dukascopy Bank
"Raising the [EUR/CHF] floor makes sense, both to loosen the monetary stance and tactically to ensure the floor continues to meet little challenge. We expect an increase to 1.25 over the next quarter"
- Barclays Plc (based on Bloomberg)
Industry outlook
While USD/CHF is supported by a formidable level at 0.9066/0.9000, the pair is bullish and should penetrate 0.9180 in the near future. This would imply an extension of a rally up to 0.9317 with the possibility to reach 0.9595 afterwards.
Traders' sentiment
Stance of traders towards USD/CHF has not changed since the last report. The ratio of long positions to short ones remains 73% to 27%.
Long position opened
Initial resistance area for the pair is situated at 0.9198. Subsequent goals for the bullish market payers may be found at 0.9237 and 0.9265.
Short position opened
Major FX traders expect the price to test the initial support level at 0.9131. The breakout of this line will pave the way for the price to test S2 at 0.9103 and S3 at 0.9064.
© Dukascopy Bank