© Dukascopy Bank
"We've become more bullish on the dollar because the economic prospects in the U.S. are improving"
- Standard Life Investments (based on Bloomberg)
Industry outlook
USD/CHF currency pair has weakened down to 0.9091, nonetheless, a key support at 0.9066 stays intact, which implies that the price should make another attempt to grow up to 0.9317/42, although it will have to overcome 0.9148/68 first.
Traders' sentiment
The share of bulls on USD/CHF has increased up to 73%, whereas bears keep on losing ground and currently occupy 27% of the market.
Long position opened
The break of the short-term resistance line 0.9133 would pave the way for the pair to rise up to 0.9180. The clearance of the second daily resistance level would establish a new target for traders at 0.9205.
Short position opened
The immediate support line is at 0.9061. Should the price step even lower, it will encounter subsequent levels at 0.9036 and 0.8989, where recovery might commence.
© Dukascopy Bank