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"US bond yields have come off a little bit in the last couple of days, but I think the environment we're in is still dollar-positive."
- Credit Agricole 9based on business Recorder)
Pair's Outlook
Pair finished the last week just slightly above the 100-day SMA, at the 55-day SMA at 0.945. Similar situation is seen this week as well as the pairs outlook is neutral. Pair should advance above the Fibonacci 50% retracement (May to June sell off) in order to negate all the downside risk. Short term dips should close below the 0.935 in order to gain bearish momentum.
Traders' Sentiment
Situation in the market remains slightly in favour for the bulls. 54% of open positions are long on the pair, 1% decrease during the weekend, and 54% of pending orders, 2% increase after the weekend, are set to buy the greenback against the franc.
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