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USDCHF Nears Critical Resistance as Sentiment Favors Losses

USDCHF Nears Critical Resistance as Sentiment Favors Losses

David Rodriguez, Head of Product
ssi_usd-chf_body_Picture_11.png, USDCHF Nears Critical Resistance as Sentiment Favors Losses

USDCHFRetail forex trading crowds have remained steadily net-long the US Dollar (ticker: USDOLLAR) versus the Swiss Franc since it crossed below SFr 0.9500, but positioning has moderated since last week.

Trade Implications – Our overall trading bias favors further USDCHF weakness, but technical forecasts emphasize that a break above the key SFr 0.9240 mark could signal a bigger turn higher is likely.

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

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