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"The present upswing of the Swiss business cycle can accordingly be expected to continue; and in the next few months the year-on-year growth rate of Swiss gross domestic product (GDP) should gain further momentum."
- KOF Institute (based on Reuters)
Pair's Outlook
Pair seems to be facing difficulties breaching weekly R1/20-day SMA, but we expect the pair will advance above it in the course of a few days. That would put weekly R2/55-day SMA on the map. In case of an unexpected failure we could start eyeing October low.
Traders' Sentiment
Swiss franc is the most sold major currency across the board. Since greenback is more bought than sold, as a consequence overwhelming majority (73%) of traders are long on the pair. Significant share (69%) of pending orders are set in their favour as well.
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