Swiss Franc at Potentially Substantial Turning Point
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Trade Implications – USDCHF: Crowds are often their most long at major price lows, but THE extreme is only clear in hindsight. Yet the US Dollar/Swiss Franc is at an important cyclical turn window as 90 percent of open retail positions are long. Our Senior Technical Strategist favors an important rally, and a USDCHF break above SFr0.9150 would confirm that the longer-term trend remains higher.
--- 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.