© Dukascopy Bank
"The method of intervention has been passive, rather than active, with the Swiss National Banknot pushing euro-Swiss franc aggressively higher"
- Deutsche Bank AG (based on Bloomberg)
Industry outlook
USD/CHF remains under the effect of an encounter with a downtrend resistance line at 0.9215 and is presently trading lower. The currency pair is anticipated to fall down to 0.9066, but then resume inching higher once again.
Traders' sentiment
Traders' sentiment on USD/CHF is rather volatile, since the portion of long positions has soared up to 71%, leaving only 29% for shorts.
Long position opened
The price might rebound from the first resistance level at 0.9162, so major dealers are planning to close some of their long positions near this level. Subsequent goals for bulls are 0.9214 and 0.9249.
Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 0.9075. If the pair erodes this level, then it might rebound from S2 of 0.9040 or S3 of 0.8988.
© Dukascopy Bank