Swiss Franc May Fall Further
USDCHF – Forex trading crowd sentiment remains near-neutral on the US Dollar/Swiss Franc currency pair, giving us a similarly directionless trading bias. Our “Tidal Shift” strategy took a long position from SFr 0.9287 as of this morning. And though we believe it has a reasonable chance of success, we would ideally see a strong shift in price action before taking firm conviction in the forecast.
Our technical outlook for the USDCHF favors further strength as long as price remains above SFr 0.9135, and intermediate targets are 0.9400 and the January high of 0.9595.
How do we interpret the SSI? Watch an FXCM Expo Presentation that explains the SSI.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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