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Swiss Franc May Fall Further against USD

Swiss Franc May Fall Further against USD

David Rodriguez, Head of Product
ssi_usd-chf_body_Picture_3.png, Swiss Franc May Fall Further against USD

USDCHF – Our retail trader-based Speculative Sentiment Index shows that crowds are net-short the US Dollar (ticker: USDOLLAR) against the Swiss Franc for only the second time since January. We most often use the SSI as a contrarian indicator, and the sharp shift towards crowd selling suggests that the USDCHF may continue to gain.

Our Technical Strategist believes that a USDCHF move towards SFr 0.9335 seems likely in the short-term, while intermediate forecasts call for a test of year-to-date highs near SFr 0.9600.

How do we interpret the SSI? Watch an FXCM Expo Presentation that explains the SSI.

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

To receive the SSI via e-mail and other reports from author David Rodríguez, e-mail subject line “Distribution List” to drodriguez@dailyfx.com; Contact David via Twitter at http://www.twitter.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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