Forex Analysis: Swiss Franc Forecast to Fall Further
USDCHF –Retail forex trading crowds have remained steadily net-long the US Dollar (ticker: USDOLLAR) versus the Swiss Franc since it crossed below SFr 0.9500, and indeed long interest has grown since last week.
Trade Implications – One of our sentiment-based trading strategies has most recently gone long USDCHF from SFr 0.9332, but effectively sideways price action means that the trade has remained flat for some time. Our senior technical strategist believes that USDCHF dips should be bought near SFr 0.9230.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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