© Dukascopy Bank
"The dangerous kind of deflation would mean a weak [Swiss] domestic economy. But here the prospects have improved, the export sector is suffering pressure on margins but it's not as bad as once feared"
- UniCredit (based on CNBC)
Industry outlook
USD/CHF is anticipated to repeat its attempt to break through 0.9180 in the near future. Then it would aim for 0.9317/42, which lies en route to 0.9595. Supports may be found at 0.9125, 0.9085 and 0.9066.
Traders' sentiment
The share of bullish traders have increased up to 73%, leaving merely 27% for those who expect the Swiss Franc to gain in value relative to the Greenback.
Long position opened
The price might rebound from the first resistance level at 0.9182, so major dealers are planning to close some of their long positions near this level. Subsequent goals for bulls are 0.9211 and 0.9240.
Short position opened
A part of the brokers will close their short positions near initial support level at 0.9124. In case of downtrend continuation, the pair might rebound from the S2 at 0.9095 or S3 at 0.9066.
© Dukascopy Bank