© Dukascopy Bank
"The SNB is in a position to print as many Swiss francs as necessary to preserve [the ceiling]"
- George Soros (based on Bloomberg)
Industry outlook
USD/CHF is anticipated to maintain its current southwards course toward 0.9080/65. This level should provide sufficient support and will not be breached. Resistances are at 0.9220 and 0.9320.
Traders' sentiment
The gap between the amount of long (54%) and short (46%) positions has narrowed, making the sentiment more or less neutral for now.
Long position opened
The initial resistance level for intraday trading is 0.9235. Bulls might establish additional targets at 0.9268 and 0.9307 if the Buck appreciates even more.
Short position opened
In case of dips, another rally may start after rebounding from the initial support level at 0.9163. However, assuming that the bearish momentum does not weaken, investors will pay attention to the lower support levels at 0.9124 and 0.9091.
© Dukascopy Bank