Hi traders, here's a quick overview of the USD/CHF pair.
TECHNICALS:
USD/CHF entered a well-defined medium-term downtrend, and completed a pullback to a resistance level at 0.9550, where buyers had difficulties to push above. The current levels may provide a selling opportunity, as the 1-hour chart shows a bearish structure in its formation.
POSITIONING:
Positioning data doesn't hurt a short as investors cut their bullish bias on both the USD and CHF in recent weeks.
TECHNICALS:
USD/CHF entered a well-defined medium-term downtrend, and completed a pullback to a resistance level at 0.9550, where buyers had difficulties to push above. The current levels may provide a selling opportunity, as the 1-hour chart shows a bearish structure in its formation.
POSITIONING:
Positioning data doesn't hurt a short as investors cut their bullish bias on both the USD and CHF in recent weeks.
