USD/CHF: Risk reversal jumps to two-week top
|One-month risk reversal of USD/CHF, a gauge of calls to puts, not only snapped a two-day downtrend but also rose to the highest since June 30, per the latest data from Reuters.
This goes hand-in-hand with the USD/CHF recovery after refreshing the lowest levels since June 17 the previous day.
Risk reversals flashed a +0.012 figure for June, by the end of Monday’s trading, suggesting the strong bullish bias among the USD/CHF traders.
It should, however, be noted that the pair’s inability to cross the 100-DMA, around 0.9160, on a daily closing basis keeps the pair sellers hopeful. The same direct USD/CHF bears to the 0.9100 round-figure before 200-DMA level of 0.9070 challenge the pair’s further weakness.
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