© Dukascopy Bank
"Strong U.S. data this week is likely to see the dollar strengthen on rising yield appeal"
- Commonwealth Foreign Exchange (based on CNBC)
Industry outlook
USD/CHF has managed to stabilise above 0.9000 and is now expected to rebound. Provided that 0.9066 is breached, current bearish bias will be negated, while penetration of 0.9144 will open a way towards 0.9317/42.
Traders' sentiment
The gap between the shares of bullish (70%) and bearish (30%) traders has narrowed by a small fraction, being unable to impact the overall sentiment.
Long position opened
The break of the short-term resistance line 0.9072 would pave the way for the pair to rise up to 0.9106. The clearance of the second daily resistance level would establish a new target for traders at 0.9142.
Short position opened
In case of dips, another rally may start after rebounding from the initial support level at 0.9002. However, assuming that the bearish momentum does not weaken, investors will pay attention to the lower support levels at 0.8966 and 0.8932.
© Dukascopy Bank