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"With monetary easing under way by the ECB and Swiss inflation still trending below target levels, the SNB will have to extend the currency cap against the euro into mid-2016 at the very least."
- Moody's Analytics (based on Bloomberg)
Pair's Outlook
The Greenback did not succeed at overcoming the selling pressure yesterday, as a result of which the currency retreated back to 0.9550. But the dip should not extend further—the downside is limited by the monthly pivot point in conjunction with the 55-day SMA. If they fail, there is another formidable support at 0.95, where the weekly S2 merges with the 23.6% retracement of the May-Nov advancement.
Traders' Sentiment
The market participants did not change their bullish attitude towards USD/CHF—66% of positions are long. But the percentage of the orders to acquire the Buck went noticeably up, namely from 52 to 61%.
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