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"The stock markets are in a kind of conflict between good quarterly results of companies and economic data that tend to be worse than expected, especially in Europe"
- Luzerner Kantonalbank AG (based on CNBC)
Industry outlook
The pair is flirting around the 0.9060/75 pivot levels as USD/CHF is going through the consolidation phase. The pair has to hold above the 0.9040/50 zone (200-day MA) in order to maintain a flat trend. A recovery off the pivotal levels (0.9060/75) would expose the 0.9317/42 resistance (October and November 2011 highs).
Traders' sentiment
Traders' sentiment on USD/CHF is little changed since yesterday. The vast majority, being 73.82%, remains bullish on the pair, while 26.18% believe in an alternative scenario.
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 0.9095 and 0.9116. The highest level is at 0.9136.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 0.9054, 0.9034 and 0.9013.
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