© Dukascopy Bank
"To return to normal, the [Swiss] economy would need an exchange rate of 1.35 to 1.40 francs per euro"
- State Secretariat for Economic Affairs (based on Bloomberg)
пЃ® Industry outlook
Despite that USD/CHF pair is somewhat weak at the moment, the overall picture remains bullish. In case the price falls, a tough level located at 0.9375 should be able to provide sufficient support and send the pair back up.
пЃ® Traders' sentiment
As a result of the Swiss Franc being the least attractive currency among its major counterparts, USD/CHF currency couple is overbought, with 73.21% of trades being long and the rest (26.79%) being short.
пЃ® Long position opened
Investors should pay close attention to the identified resistance levels for the pair at 0.9450, 0.9499 and 0.9528.
пЃ® Short position opened
The immediate support line is at 0.9372. Should the price step even lower, it will encounter subsequent levels at 0.9343 and 0.9294, where recovery might start.
© Dukascopy Bank