FXStreet (Bali) - According to Standard Chartered, their IMM positioning model has generated a sell signal in USD/CHF on crowded longs.
"Our IMM positioning model is showing a tactical ‘Sell’ signal for USD-CHF on extreme position skew. The short-term USD-CHF technical outlook has also turned down, supporting a corrective pullback. The medium-term outlook remains bullish USD-CHF on policy divergence, rate spreads, valuation. The best way, in our view, to play this tactical rebound in the CHF is against the USD rather than crosses."