According to the most recent data from Reuters, the one-month risk reversal of USD/CHF, a barometer of calls to puts, not only stopped a two-day downturn but also surged to its highest level since June 30.
This coincides with the USD/recovery CHF’s from the previous day’s lows, which were the lowest since June 17.
By the close of Monday’s trading, risk reversals had flashed a +0.012 figure for June, indicating a strong bullish bias among USD/CHF traders.
However, the pair’s inability to close above the 100-DMA, which is around 0.9160, on a daily basis keeps the pair sellers hopeful. The same direct USD/CHF bears to the 0.9100 round figure before the pair’s further weakening is challenged by the 200-DMA level of 0.9070./n
