fundamental News - USD/CHF
One-month risk reversal of USD/CHF, a gauge of calls to puts, drops for
the second consecutive month by the end of April, per the latest data
from Reuters.
The daily 200-SMA level near 0.9085 restricts short-term USD/CHF
downside ahead of the early February tops around 0.9045. Meanwhile,
buyers aren’t likely to take fresh entries until witnessing a clear
break above 0.9135-40 area comprising lows marked since
March 02.
This goes against the USD/CHF downtrend that teased March lows, up
0.42% intraday near 0.9145 by the press time of early Tuesday.
Risk reversals flashed -0.187 figure in March before declining to
-0.200 for April. The same should have tamed the USD/CHF buyers.
However, the latest safe-haven backup to the US dollar seems to play its
role in testing the pair’s downside.
Technical analysis
Expectation: bearish