The 200 DMA provided good support for the EUR/CHF currency pair earlier this month, which resulted in a large green day on the 9th. Since then prices have consolidated into a nice pennant flag which could suggest further upside is on the horizon.
Asset managers, in general, have a strong bullish outlook on the EUR, with 83.25% of them long (16.75% short). Leveraged money is pretty much 50/50, and small speculators are betting alongside the asset managers at 69.59% long (30.41% short).
On the Swiss Franc (CHF) asset managers also have a positive outlook with 68.30% long (31.70% short). Leverage money is also bullish, 80.56% long (19.44% short) and small speculators a slightly skewed bullish at 57.67% (42.33% short).
Providing the bulls can force prices through resistance at (1), we should look for 1.0840s as a first sensible target which previously provided a good selling opportunity. Any downside pressure resulting in a break below flag support would negate this bullish outlook for the short term.
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