© Dukascopy Bank SA
"Despite expectations by many market participants that the Fed chief would yield to calls for quantitative easing, his statement indicated nothing of the sort"
- GFT (based on CNBC)
Pair's Outlook
Resistance at 0.9805 withstood bullish pressure and managed to contain the pair yesterday. Nonetheless, being that majority of indicators point to the upside, this level is prone to be eroded and thus pave the way towards 0.9873 and 0.9906/40. In the meantime, near-term dips should be limited by supports situated at 0.9737, 0.9698/69 and 0.9604/02.
Traders' Sentiment
Majority of traders (59%) have preferred to enter the market with buy trades, while the rest (41%) wait for the Swissie to depreciate against the Dollar, while the Franc is the least popular currency among its major counterparts. Distribution of orders above and below the current price is nearly the same, since 48% of them are buy orders and 52% are sell orders.
© Dukascopy Bank SA