© Dukascopy Bank SA
"Mounting expectations for the Fed to scale back its quantitative easing program have pushed bond yields higher and added to the appeal of dollar assets, especially as other major central banks continue to lean toward further monetary easing."
- Commonwealth Foreign Exchange (based on Courier Mail)
Pair's Outlook
After a few sessions spent trading on the 55-day SMA, pair received a bullish impetus from it and advanced above the 0.95. Pairs outlook remains fairly positive, but it should take some time for it to breach the Fibo 61.8% (end of May to mid-June sell off) at 0.956. Unexpected dips should find support with 0.944; rallies should remain capped by the mentioned Fibo 61.8%.
Traders' Sentiment
Amount of long positions in the market decreased by a minor 1%; at the moment bulls account for 53% of all market participants. However, at the moment 64% (-6% since yesterday; +10% in the last few days) of pending orders are set to sell the greenback against the franc.
© Dukascopy Bank SA