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SNB Rumours See Franc Decline USD/CHF Analysis 20/9/11
The latest COT data revealed that Swiss Franc long positioning decreased as large specs went from 7549 net long contracts on the 6th September to 5493 on the 13th September; this decline started on the 23rd August. In contrast, currency specs were net long the greenback for the first time in over a year. This information alone suggests that the USD/CHF pair could be ready for more upside in the short to medium term. The FOMC rate decision, scheduled for tomorrow could be key regarding the near term directional bias for the greenback. Price has moved as high as 0.8921 today. This is 6 pips shy of the 4 month high ... (full story)
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