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"Despite the improvement in orders and an increase in capacity utilization, companies nevertheless reduced their capacities. We see this as a consequence of the current general uncertainty."
- Swiss SVME purchasing managers' association and Credit Suisse (based on The Economic Times)
Pair's Outlook
For quite some time now pair has been trading at the 55-day SMA at 0.945. Short term peaks were capped by the Fibo 50% (end of May to mid-June move) at 0.948. Despite the positive aggregate reading from technical indicators in the short term, pair is more likely to trade sideways. It does not seem there is a catalyst which could send the pair above the 0.95 what would negate almost all negative outlook on the pair.
Traders' Sentiment
Amount of long positions in the market remains at the same level—54%. However, at the moment 60% (+16% since yesterday) of pending orders are set to sell the greenback against the franc.
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