© Dukascopy
"It would be fatal if the minimum exchange rate between EUR and CHF was suddenly removed"
- Swiss Ministry of Finance (based on Bloomberg)
Industry outlook
USD/CHF pierced the 0.9066 level yesterday and although the pair is expected to recover further to 0.9186 (20-day ma), failure to do so would lead to the 0.9015 (4-month support level) and 0.8931 (February low).
Traders' sentiment
The Swiss Franc is presently the least popular currency among its major counterparts. Accordingly, 74.64% of those, who hold positions on USD/CHF, expect the pair to rise as they have entered the market with a long trade.
Long position opened
Traders with long positions opened might be willing to fix gains at 0.9122. The breakout of this initial level will clear the way for a bullish uptrend to 0.9176 and further to 0.9216.
Short position opened
Bearish market players might face the first short-term support line at 0.8988. Further downward impetus might create the following targets for traders: S2 at 0.8948 and S3 at 0.8874.
© Dukascopy