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USD/CHF analysis: Does this head and shoulders have legs?
The US dollar has been on a strong rally in recent weeks, which has helped USD/CHF achieve a 7% rise from its September low. This surely pleases the SNB, who desire a weaker Swiss franc and were rumoured to have been intervening whenever USD/CHF dipped below 0.84. Futures traders have also been supportive of the trend, with large speculators increasing net-short exposure to the Swiss franc, while asset managers (who have been great at calling USD direction) remain net-long USD index futures. In fact, futures traders remain near their most bullish on the USD index in aggregate in nearly six months. All in all, this ... (full story)
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- Posted: Dec 5, 2024 10:00pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 7,961
