[B]USD/CHF[/B][B] Ratio: -1.23
[/B][B]Signal: Bullish[/B]
[B]Currency[/B] [B]Last Week[/B] [B]Present*[/B] [B]% Long[/B] [B]% Change in Positions Outstanding[/B] [B]Signal[/B] USDCHF -1.14 [B]-1.23[/B] 45% -6.49% Bullish
[B]USDCHF – [/B]Like EURUSD, the USDCHF marked a significant reversal from price action over the past week. However, unlike its typically highly correlated counterpart, the Swissie-denominated major actually marked a sharp jump in open interest from last week. What’s more, the USDCHF’s SSI reading actually grew more extreme at -1.24 from -1.14 from last week and -1.01 from Wednesday. With the pair’s extreme volatility and record lows, positioning has been shifting dramatically. Long positions dropped 21.9% from yesterday and 30.9% since last Thursday. Short positions were 4.7% weaker than Wednesday and 30.3% stronger than last week. Despite USDCHF’s building momentum, open interest is actually 13.2% weaker than yesterday and 7.5% below its monthly average.