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"With the ECB policy and Draghi's comments pushing that euro lower, then intervention [by the SNB] potentially become far more likely. There's almost inevitability there."
- Rabobank (based on Bloomberg)
Pair's Outlook
Since USD/CHF has just closed the bullish gap by falling to the support at 0.9650, it may attempt to launch yet another attack on the resistance at 0.9740. But if the weekly PP together with the 20-day SMA fails to provide sufficient demand, the pair may return to 0.9550, where it will be backed up by the monthly pivot point and 55-day SMA. Meanwhile, violation of 0.9740 implies a surge to the 2013 high at 0.9840.
Traders' Sentiment
The current distribution between the long and short positions is exactly the same as yesterday—65 to 35%, respectively. Concerning the pending orders, the share of the buy ones set 100 pips from the spot jumped from 64 to 71%.
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