USD/CHF Ratio: 1.66 Signal: Bearish
USDCHF – Much like the sentiment reading from USDJPY, USDCHF positioning is pointing to further declines. The ratio of long to short positions rose to 1.66 from 1.52 yesterday 1.35 from last week. Despite the growing bias in the ratio though, both long and short positioning have grown with open interest up 11.6% from Wednesday and 11.9% above its monthly average. Long positions were 15.6% higher than yesterday and 25.5% stronger since last week. At the same time, short holdings grew 5.5% from yesterday and are 17.1% stronger since last week. The SSI is a contrarian indicator and signals more USDCHF losses.