USD/CHF dropping below 1.02 handle, testing bull's commitments at 1.0150

Currently, USD/CHF is trading at 1.0156, down -0.17% on the day, having posted a daily high at 1.0199 and low at 1.0142.

USD/CHF is losing ground below the 1.02 handle as the dollar gives back territory across the board in a continuation of the start to the new year's theme, despite the pro-dollar environment that Trump's proposed policies supposedly constitute along with a tightening Fed attracting investor's to the 'safe-haven' dollar in uncertain times.

Leveraged funds extend short positioning in CAD, CHF and AUD - Nomura

Meanwhile, leveraged funds increased their net short positioning in CHF, from 40% in the prior week to 52% net shorts. "This is approaching the highs seen in mid-December of 65% net short," explained analysts at Nomura, "Asset managers reduced net shorts from 44% in the prior week to 39%. "

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USD/CHF levels

Current price is 1.0156, with resistance ahead at 1.0170 (Hourly 20 EMA), 1.0174 (Daily Open), 1.0185 (Yesterday's High), 1.0194 (Hourly 100 SMA) and 1.0199 (Daily High). Next support to the downside can be found at 1.0151 (Daily Classic PP), 1.0142 (Daily Low), 1.0116 (Daily Classic S1), 1.0102 (YTD Low) and 1.0102 (Monthly Low).