© Dukascopy Bank SA
"It's another waiting day, we have a lot of important data points later in the week so people aren't going to change positions a lot today."
- J. Safra Sarasin (based on The Economic Times)
Pair's Outlook
Similarly to some other pairs greenback-franc cross is trading in a rather narrow range for the past 5 days. However, short and medium term technicals point at weakness of the pair. In such case it could be sold off all the way to 5 month low at 91.3 cents. Short term rallies are rather unlikely, but, just in case, should be capped by the 94 cents.
Traders' Sentiment
Situation in the market is remaining exactly the same for the third day in a row. Share of open long positions in the market holds at 72% level and pending long orders remain at 57% gauge.
© Dukascopy Bank SA