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- JPMorgan (based on CNBC)
Pair's Outlook
The exchange rate has successfully breached the down-trend resistance line at 0.88 and is therefore set to continue the rise, even though many of the technical indicators are presently bearish. The closest significant supply zone is at 0.89, where the 2012 lows merge with the monthly PP and 55-day SMA and thus may create notable difficulties for the current recovery.
Traders' Sentiment
A substantial majority of the market participants (72%) are convinced the greenback is going to increase in value relative to the Swiss Franc, even though since last year's May the market has been generally bearish. At the same time the percentage of orders set to purchase the U.S. Dollar is going down, from 58% to 55%.
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