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"Since the start of 2011, real exports have been moving sideways, held back by the high value of the Swiss franc and the subdued momentum in world trade."
- Swiss National Bank President (based on The Wall Street Journal)
Pair's Outlook
It seems that the pair has consolidated above the 200-day SMA and at the moment is aiming at the 55 and 100-day SMA at 0.943. If the pair manages to breach it in a timely fashion we are likely to see pairs rally all the way to 0.95 and 0.96. If the pair decides to take another step back, as suggested by the short term technical, we could see dips till 0.930, 0.925 and 0.920.
Traders' Sentiment
There has been an interesting development regarding market sentiment in the greenback-Swiss franc cross. Amount of bulls in the market is keeping at the same level as yesterday (56%), but the amount of pending orders posted by the bulls decreased by 9% (52% in total).
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