USD/CHF: Risk reversal marks five quarterly gains at a stretch
|One-month risk reversal of USD/CHF, a gauge of calls to puts, rose for the fifth consecutive quarter, also snapping a three-month downtrend, by the end of June, per the latest data from Reuters.
This goes hand-in-hand with the USD/CHF recovery in June, up 2.94% MoM around 0.9250.
Risk reversals flashed a +0.450 figure for June, as well as a +0.2000 mark for Q2 2020, by the end of Wednesday trading, suggesting the strong bullish bias among the USD/CHF traders. However, the weekly count is on the way to snap the five-week uptrend, -0.012 by the press time.
Technically, a daily close beyond 0.9240-45 hurdle, comprising June 18 top and early March lows, enables USD/CHF buyers to aim for the September 2020 highs near the 0.9300 threshold.
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