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US "Consumer spending is growing and businesses are investing. As long as interest rates stay low, it should lead to a self- reinforcing economic feedback loop"
- Deutsche Bank Securities Inc. (based on Bloomberg)
Industry outlook
Given that 0.9066 is losing its status as a key support, 0.9000 and 0.8933 (200 day ma) are now in danger of being challenged. However, in case these supports are tested, positive outlook is likely to be restored and then shift focus to 0.9317/42.
Traders' sentiment
USD/CHF currency pair remains overbought, as long positions compose the market by 73%, while the portion of short positions is currently 27%.
Long position opened
Initial resistance area for the pair is situated at 0.9105. Subsequent goals for the bullish market payers may be found at 0.9126 and 0.9149.
Short position opened
Major market participants with short positions will hold their deals until the price slides down to the initial support level at 0.9061. If the price continues the downtrend, the dealers might wait for the price to depreciate down to 0.9038 or 0.9017.
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