Swiss Franc Forecast to Strengthen 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 – Two of our sentiment-based trading strategies have sold the USDCHF from SFr 0.9277 and SFr 0.9257, and a break below 8-month lows near SFr 0.9080 would further solidify our bearish trading bias.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.