USD/CHF: Possible Sell Setup 📉

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.