TECHNICALS: USDCHF is trading near an important daily horizontal resistance that aligns with the 61.8% Fib level, signaling a possible continuation of the underlying downtrend.
POSITIONING: Bullish positioning in the CHF increased among all CoT categories except non-commericals (only a small decrease there), giving the CHF a bullish ranking of 8 /10.
The US dollar is still quite bearish with a ranking of 4 / 10.
INTEREST RATES:
2y yields formed a slight divergence with the pair, pointing at further weakness in the short-term.
POSITIONING: Bullish positioning in the CHF increased among all CoT categories except non-commericals (only a small decrease there), giving the CHF a bullish ranking of 8 /10.
The US dollar is still quite bearish with a ranking of 4 / 10.
INTEREST RATES:
2y yields formed a slight divergence with the pair, pointing at further weakness in the short-term.
