© Dukascopy Bank
"The momentum is holding up. Job creation and income growth are positives for [US] economic growth"
- Deutsche Bank Securities Inc. (based on Bloomberg)
Industry outlook
USD/CHF remains sidelined, but is still viewed as capable of challenging a resistance at 0.9317/42. A formidable support located at 0.9066/0.9000 should contain near-term dips of the price, thus preserving bullish outlook.
Traders' sentiment
Despite the decreasing portion of bulls on USD/CHF, the overall sentiment is bullish, as the ratio of longs to shorts is presently 72% to 28%.
Long position opened
Investors should pay close attention to the identified resistance levels for the pair at 0.9188, 0.9225 and 0.9256.
Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 0.9120. If the pair erodes this level, then it might rebound from S2 of 0.9089 or S3 of 0.9052.
© Dukascopy Bank