USDCHF –An aggressive shift towards US Dollar (ticker: USDOLLAR) crowd buying against the Swiss Franc warns that further declines may be in store. Crowd net positioning is now at its most bullish since the pair traded near the SFr 0.90 mark in April.
Our technical strategist nonetheless believes that trading above 0.9250 favors further upside, and it will be important to watch the Swiss Franc’s next moves as it trades near significant support levels.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
New to FX markets? Learn more in our video trading guide.
Contact David via
Twitter at https://www.twitter.com/DRodriguezFX
Facebook at http://www.Facebook.com/DRodriguezFX