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USDCHF Breaks Resistance, Sentiment Favors Gains

By , Quantitative Strategist
21 February 2013 16:00 GMT

ssi_usd-chf_body_Picture_11.png, USDCHF Breaks Resistance, Sentiment Favors Gains

USDCHF –Retail forex trading crowds have aggressively sold into recent US Dollar (ticker: USDOLLAR) strength versus the Swiss Franc, and a contrarian view of crowd sentiment favors further strength.

Trade Implications – Retail short interest in the USDCHF has surged by 103 percent since last week, while long interest has fallen 17% through the same stretch. Our retail sentiment-based trading strategies have most recently bought into USDCHF strength, and our technical strategy calls for continued gains.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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21 February 2013 16:00 GMT