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- Deutsche Bank says that the best trade is to follow USD/CHF higher
Deutsche Bank says that the best trade is to follow USD/CHF higher
"After the US election surprise, the rise in treasury yields on expectations of fiscal stimulus has led to strengthening of dollar across G10 currency pairs which has held to a rise in trendiness across G10 pairs.
Among G10 currencies, USD/CHF is our top technical currency pair. The pair is highly trending as per VHF metrics and has broken new ground to the upside. The cross is the least stretched among G10 currency pairs from a RSI perspective and has smooth price action as measured by realized vol.
EUR/USD is also trending and is breaking new ground (100 percentile) but it is relatively stretched as per RSI metrics.
Similarly USD/JPY, EUR/GBP and USD/CAD are trending according to VHF metrics and breaking new ground but are highly stretched from an RSI perspective".
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