© Dukascopy Bank
"If elevated unemployment reflects largely fundamental factors rather than insufficient spending, such stimulus [QE3] might have little impact on unemployment and instead just raise the risk of pushing inflation up"
- Jeffrey Lacker, FRB of Richmond (based on WSJ)
Industry outlook
Being that USD/CHF has recently severed a resistance at 0.9176, the currency couple is well-placed for further gains up to 0.9317/42. In case the latter level is overcome as well, then the rally may extend to 0.9595.
Traders' sentiment
Traders with long positions compose 69% of the whole market. At the same time the portion of short position holders is only 31%.
Long position opened
While trading this pair, investors should pay attention to the immediate resistance level at 0.9252. If the pair manages to go through this level, further resistances are situated at 0.9299 and 0.9328.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 0.9176, 0.9147 and 0.9100.
© Dukascopy Bank