© Dukascopy Bank SA
"Switzerland economic outlook isn't yet clear of deflationary prospects which make the scenarios of the SNB signalling any policy change premature. However, it begs the question of when is the right time to begin pricing in a more normalised policy. Most analysts expect a weaker CHF on international and Swiss investors rotating out of the safe haven nation."
- Swissquote Bank (based on The Economy Times)
Pair's Outlook
Pair seems to be range bound—bulls cannot breach June low and bears cannot push the pair below 0.908 support line. Short term technicals point at elevated downside risk in the short term, but the pair should dip below 0.903 in orders to limit pullback possibilities. In order to limit possibilities of another sell off, bulls should push the pair close, if not above, the 0.922 level.
Traders' Sentiment
Bullish side of pending orders is shrinking further. At the moment it is at 62% gauge. That is 4% less than yesterday and 9% less than a few days ago. Bullish side of open positions, however, remains at the same, 71%, level.
© Dukascopy Bank SA