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"For another month the data thereby highlight the stability of the SNB's balance sheet halfway through 2013."
- UBS (based on The Economic Times)
Pair's Outlook
Pair seems to be stabilizing around the 92 cent mark. As market sentiment is becoming more and more bullish and since the pair has almost reached the 6 month low it might be that next week will start with a decent rally which is likely to meet some resistance at 93 cent mark. In case 91.4 cents fails to support the pair we could expect a sell off till 90 cents.
Traders' Sentiment
Bullish sentiment on the pair in the market is becoming stronger. At the moment bulls account for 71% (+3% since yesterday) of the market participants. Share of pending bullish orders increased by 3% as well and is at 75% gauges today.
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