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"Expectations are for a tapering off of the bond buying programme, and if the Fed confirms that and keeps its language unchanged we expect the euro-franc to move lower again."
- Sarasin (based on The Economic Times)
Pair's Outlook
For the second day in a row pair is testing 0.925. Although short technicals point at depreciation of the pair it is worth taking in to account that quite a few technicals do not give any outlook at all. 0.92 cent area already proved to be a strong support area and it is very likely that 0.925 will be breached in the course of a few days. Next on the list is a 0.935 area where we see few strong resistance levels.
Traders' Sentiment
Greenback is second most bought major currency across the board at the moment. This sentiment is weighing on the pair making 65% of all positions long. It is likely that such +situation will last for some time more as 55% of pending orders are set to go long on the pair as well.
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