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Swiss Franc – Retail FX trading crowds had never been more long the US Dollar versus the Swiss Franc, but a substantial shift in sentiment suggests that the USD/CHF exchange rate may continue higher.
Trade Implications – USDCHF: Two weeks ago we wrote that the Swissie may have been at a substantial turning point as we saw early signs of crowd capitulation. We were clearly early as the exchange rate continued higher, but the subsequent turn in price and positions suggests that the important price extreme may be in place.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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