© Dukascopy Bank
"If Europe doesn't melt down and Congress figures out how to extend the payroll tax cut, the [US] economy can continue to gain momentum"
- Naroff Economic Advisors (based on Reuters)
пЃ® Industry outlook
The American Dollar - Swiss Franc currency pair has penetrated an uptrend and is now heading toward 0.9176/74 after which it might aim for 0.9092 (55 day ma). The immediate resistance is at 0.9331/17, followed by 0.9400 and 0.9548/49.
пЃ® Traders' sentiment
Being that the Swissie is presently the top selling currency, USD/CHF is overbought at the moment. 80.31% of liquidity consumers have entered the market with buy trades, while 19.69% of them stay bearish.
пЃ® Long position opened
Investors should pay attention to the identified with the help of the standard pivot point method resistance zones, as they might be useful during intraday trading. The initial resistance level is at the level of 0.9375, whereas R2 and R3 are situated at 0.9434 and 0.9488 accordingly.
пЃ® Short position opened
Key support for USD/CHF intraday trading is situated at 0.9262. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 0.9208 and 0.9149.
© Dukascopy Bank