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"We don't believe it's possible to have a healthy existing-home market (in US) and new one that's near depression levels for several years."
- Marketfield Asset Management LLC (based on Bloomberg)
Pair's Outlook
As expected the pair continues to appreciate and at the moment is testing weekly R2/55-day SMA. We expect this trend to continue and that cluster of technical levels at 0.9173/217 will be tested in the short to medium term. We do not expect to give up easy and it might even fail the pair. Advancement above it would put 0.933 on the map.
Traders' Sentiment
Swiss franc remains the most sold major currency across the board. On the same note bulls continue to hold tight grip on the market. Bulls hold 70% of all open positions and 67% of pending orders are set in their favour as well.
© Dukascopy Bank SA