Swiss Franc Likely to Fall Further
The ratio of long to short positions in the USDCHF stands at -1.55 as nearly 61% of traders are short. Yesterday, the ratio was at -1.38 as 58% of open positions were short. In detail, long positions are 7.2% lower than yesterday and 26.7% stronger since last week. Short positions are 3.7% higher than yesterday and 2.7% stronger since last week. Open interest is 0.9% weaker than yesterday and 3.0% above its monthly average. The SSI is a contrarian indicator and signals more USDCHF gains.
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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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