USD/CHF Ratio: -1.23
Signal: Bullish
| Currency | Last Week | Present* | % Long | % Change in Positions Outstanding | Signal |
| USDCHF | -1.14 | -1.23 | 45% | -6.49% | Bullish |
USDCHF – Like EURUSD, the USDCHF marked a significant reversal from price action over the past week. However, unlike its typically highly correlated counterpart, the Swissie-denominated major actually marked a sharp jump in open interest from last week. What’s more, the USDCHF’s SSI reading actually grew more extreme at -1.24 from -1.14 from last week and -1.01 from Wednesday. With the pair’s extreme volatility and record lows, positioning has been shifting dramatically. Long positions dropped 21.9% from yesterday and 30.9% since last Thursday. Short positions were 4.7% weaker than Wednesday and 30.3% stronger than last week. Despite USDCHF’s building momentum, open interest is actually 13.2% weaker than yesterday and 7.5% below its monthly average.
