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Supports: 1.2008; 1.2006; 1.2002
Outlook
Since the end of April EUR/CHF currency pair has kept a very narrow sideways price trend, fluctuating around 1.2010. Just recently it has touched 20-day SMA at 1.2009 and is heading towards 55-day SMA at 1.2010, which might prove to be a formidable resistance level for the current bullish correction. If 1.2010 is breached, then the next resistance at 1.2012 (Upper Bollinger Band) is very likely to negate some of the upward momentum. Although EUR/CHF keeps moving up and down every day, its medium-term goal remains 1.2010, therefore this currency pair might be considered as stable. Besides, RSI indicator remains neutral, thus supporting stable outlook on EUR/CHF in the short to medium-term.Traders' sentiment
Despite decreased volatilityof EUR/CHF, almost 72% of all traders at SWFX market hold long positions on the pair, expecting that single European currency will gain value against the Swiss Franc. The situation with orders is completely the same, since exactly 72% of traders ordered to buy EUR/CHF currency pair. Such anticipation might be based on the latest news from the ECB and recent Euro's sharp appreciation.