USD/CHF Ratio: -1.35 Signal: Bullish
USDCHF – Though the USDCHF Speculative Sentiment Indicator is far from the extremes of a month ago, the indicator has still seen a definite shift in the bias of retail traders. The pair’s SSI ratio rose from last week’s near parity level of -1.02 to -1.35. Compared to its close counterpart USDJPY, positioning in the Swissie-based major is still relatively mild and ultimately maintains the general trend towards parity that the sentiment indicator has experienced since hitting its recent extreme back on April 25th. This divergence is understandable considering underlying spot has yet to reach significant technical resistance like USDJPY has. At the same time, details from the report further reveal trading activity is relatively muted. Long positions eased 3.4% from yesterday, but were a considerable 15.4% lower than last week. On the other hand, shorts edged 1.2% higher from Wednesday and were 7.8% stronger than last week. Overall, open interest was 4.1% lower on the week, but a noteworthy 21.1% below the monthly average.