© Dukascopy Bank
"The overvalued exchange rate is doing enormous damage to the [Swiss] economy. They need to be bold once more, lifting the cap to 1.30 [Francs per Euro]"
- Financial Services Ltd. (based on Bloomberg)
пЃ® Industry outlook
Support at 0.9040 has managed to halt fall of USD/CHF after encountered a strong resistance area at 0.9341/99. Therefore the bias will remain neutral before the pair gains bullish momentum and challenges 0.9341/99 once again.
пЃ® Traders' sentiment
Most of FX market participants, namely 60.44%, expect USD/CHF currency pair to surge. At the same time 39.56% of them deem the price as bearish and anticipate it to drop, even though currently the Swiss Franc is the second least attractive currency after the Japanese Yen.
пЃ® Long position opened
Investors should pay close attention to the identified resistance levels for the pair at 0.9305, 0.9353 and 0.9409.
пЃ® Short position opened
Key support for USD/CHF intraday trading is situated at 0.9201. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 0.9145 and 0.9097.
© Dukascopy Bank