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"When [the] world looks like a dire place and the investment opportuniies around the world look poor, the Swiss are unable to find investment opportuniies abroad and hence the ouflows from Switzerland slow. Meanwhile, the CA inflows coninue and this puts pressure on CHF to appreciate"
- HSBC based on Bloomberg
Industry outlook
The pair retraced to the 0.9019 (4-month support) level yesterday. If it remains untapped and moves above 0.9066, the downside pressure will be avoided within the rest of the week. While the pair is confronted by the latter level, the pair is prone to move to the 0.8931 February low.
Traders' sentiment
The Swiss Franc is presently the least popular currency among its major counterparts with 69.97% of those, who hold long positions on USD/CHF, expect the pair to rise.
Long position opened
Market participants holding long positions might expect the first serious resistance level at 0.9063 today. A breach of this level will expose further resistance levels at 0.9076 and further to 0.9100 respectively.
Short position opened
Bearish market players might face the first short-term support line at 0.9026. If the downward momentum continues, it might set 0.9002 and 0.8989 as the next targets for today.
© Dukascopy