© Dukascopy Bank SA
"Getting out of ultra-low interest-rate policy was never going to be easy, and this is a perfect illustration of why. It is possible that this will make it even harder because the market will be even more primed to view inflection points as messy and destructive, and therefore a reason to sell early."
- Wrightson ICAP LLC (based on Bloomberg)
Pair's Outlook
Pair started the week giving bullish signals, but is seems that 93 cent area will push the pair lower. 0.915 should hold the pairs downslide and keep the pair supported for some time, after that we should get much clearer directional signal. In case the pair manages to close above the 93 cents, would allow us to consider 93.5 and 94.1 cents as possible failure points.
Traders' Sentiment
Swiss franc is the second least bought major currency across the board and market sentiment remains exactly the same as yesterday—73% of traders being long on the pair. Pending orders, set in favour of the bulls plunged from 64% to 55% since yesterday.
© Dukascopy Bank SA