© Dukascopy Bank SA
- a Tokyo-based sales trader (based on CNBC)
Pair's Outlook
As it turned out the rally started on Monday proved to be unsustainable and was quickly erased yesterday. The dip extended down to the tough support at 0.9021/13, which consists of the weekly S1 and Feb low, meaning there is now a high possibility of a rebound, though there are more bearish signals for the daily and weekly time-frames than there are bullish ones.
Traders' Sentiment
SWFX market participants remain strongly convinced that the U.S. Dollar will outperform the Swiss Franc in the future—75% of them are currently holding long positions despite a constantly falling price. As for the orders, 66% are to acquire the buck and 34% are to sell it against the Franc.
© Dukascopy Bank SA