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"We will be a bit sceptical chasing the Swiss franc much higher, given what the SNB has said. Swiss franc should not be doing too well."
- Altana Hard Currency Fund. (based on Reuters)
Pair's Outlook
Pair seems to have stabilized and remains around 91 cent mark. However, we could see a rapid recovery to 0.917. Peak above it could easily send the pair testing 0.928. It is rather difficult to predict what could happen after that. Close below 91 cents, however, might pave the way for the pair to trail to 89 cents.
Traders' Sentiment
Swiss franc remains one of the most sold major currencies on the pair making market sentiment strongly in favour of the bulls—they account fro 73% of market participants, it is 2% less than yesterday. However, 5% more pending orders are set in their favour. Overall gauge is at 73% today.
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