[B]USD/CHF Ratio: -1.03
[/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 -1.35 [B]-1.03[/B] 49% 2.82% Bullish
[B]USDCHF –[/B] Over the past few months, USDCHF has been losing its correlation to its yen-denominated counterpart and has returned to its euro-bred roots. Like the USDJPY, speculative USDCHF positioning has held net short since the bullish reversal in the underlying back in March. However, unlike the it’s yen counterpart, the USDCHF’s SSI reading has actually grown more neutral over the past six weeks – and is actually pointing to a potential flip in the near future. Today the pair’s ratio stands just below parity at -1.03 as 51% of retail traders are short. On the other hand, this move towards parity has come from a -1.35 reading from last week, suggesting considerable trading activity over the past week. Indeed, long positions are 8.2% greater than yesterday and 26.8% stronger than last week. Shorts edged 1.6% higher since Wednesday, but were 13.1% below last week’s levels. Overall, open interest is 4% greater on the week and a hearty 11.8% below the monthly average.