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"We see only moderate growth compared to recent years, and these solid but hardly effervescent economic conditions should keep inflation in check. That's a really nice environment for local bond markets."
- Bank Sarasin & Cie AG (based on Bloomberg)
Pair's Outlook
After a major 130 pip rally a week or so a go pair has been stranded between 0.915 and 0.920. At the moment it seems that main indication on what we might expect in the future will be if the pair will remain above 55 and 20-day SMAs or we will see a pullback which could depress the pair back to 0.91. technical indicators suggest that latter scenario is rather likely making 0.914 and 0.908 the first main support levels to be followed.
Traders' Sentiment
The Swiss Franc is the least popular currency in the SWFX market, bought merely in a quarter of cases across its crosses. Consequently, a majority of positions (71%) on USD/CHF are long. Concerning orders placed on the currency pair, a half of them are to buy the greenback and the same amount is to sell it against the swissie.
© Dukascopy Bank SA