© Dukascopy
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-JPMorgan Chase & Co. (based on Bloomberg)
Industry outlook
The current downtrend of USD/CHF is anticipated to end near strong supports at 0.8855 and 0.8771, being 200 day ma. Fol-lowing a likely rebound from here the price is expected to jump up to 0.9055, covering its recent losses.
Traders' sentiment
The American dollar strengthened its position comparatively to the Swiss franc in terms of the number of trades held, as the greenback is supported by 74% of the market, while only 26% perceive swissie as a bullish currency.
Long position opened
Bullish investors should pay attention to the key resistance levels for intraday trading. R1 is situated at 0.9026, followed by R2 and R3 at 0.9070 and 0.9186 respectively.
Short position opened
Bearish traders should focus on support levels in order to close their deals. The primary forecast target is 0.8910. If the pair erodes this level, then it might rebound from S2 of 0.8837 or S3 of 0.8721.