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"With the bulk of US economic indicators coming in short of expectations; the dollar has been in for consolidation at the end of last week. As such, USDCHF dropped back below the 93.00 level dragging EURCHF lower accordingly."
- UBS (based The Economic Times)
Pair's Outlook
It seems that the pair has stabilized after plummeting from 200-day SMA and at the moment it is trading supported by the weekly S1. Pair has been trading in the same area for the past 9 sessions. As short and medium technicals give negative aggregate outlook it seems that the pair will remains depressed and should maintain mildly bearish stance.
Traders' Sentiment
It seems that bears are not willing to give up easily as share of short open positions in the market increased by 7% and at the moment they account for 31% of market participants. Share of pending long orders is at 68% gauge, 1% more than yesterday.
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