© Dukascopy Bank
- California State University (based on Reuters)
пЃ® Industry outlook
While being capped by a resistance line at 0.9399 USD/CHF is likely to slide down, although dips are not expected to extend below a tough support located at 0.9065. Should, on the other hand, resistance at 0.9399 be penetrated, the rally may reach 0.9547.
пЃ® Traders' sentiment
USD/CHF market is continuously dominated by bullish positions, as 81.72% of all the trades held are long, while at the same time only 18.28% of them are short.
пЃ® Long position opened
Investors should pay attention to the identified with the help of the standard pivot point method resistance zones, as they might be useful during intraday trading. The initial resistance level is at the level of 0.9404, whereas R2 and R3 are situated at 0.9448 and 0.9497 accordingly.
пЃ® Short position opened
Major dealers are planning to partially close their short positions if the pair touches upon the first support level at 0.9311. However, if the bearish impetus proves to be strong enough, some of the positions could be squared off at S2 of 0.9262 and at S3 of 0.9218.
© Dukascopy Bank