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"We've had a few positive broad-based surprises on the economic front from the US, Switzerland and Europe, but it hasn't led to a weaker Swiss franc. Markets are likely waiting for more clarity regarding U.S monetary policy."
- J. Safra Sarasin (based on The Economic Times)
Pair's Outlook
Pair is maintaining its bearish stance and depreciated additional 40 pips yesterday. At the moment it is trading just slightly above the 92 cent mark. It does not seem that this major level will act out as a support for the pair therefore we could rather safely wait for it to trail till 6 month low just slightly above the 91 cents.
Traders' Sentiment
Situation in the market remains pretty much the same as yesterday. Bulls account for 68% of market participants and 72% of pending orders are in their favour as well.
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