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"We're also starting to see foreign depositors, which have sought stability in Swiss-denominated assets, start to pare down some of those allocations."
- Standard Chartered (based on Bloomberg)
Pair's Outlook
As in most of the cases the pair started the weak in a rather calm manner, however, it seams that 20-day SMA is keeping the pair at bay as well. Short and medium term technicals suggest that the bearishness shown by the pair in the last month should persists and we should not expect recovery before the 6 month low at 0.913. Pair should consolidate above the 100-day SMA in order to get rid of this bearishness.
Traders' Sentiment
Market sentiment remains exactly the same like before the weekend. 71% of market participants are bullish on the pair and 71% of pending orders are in their favour as well.
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