of clients are net short. | Change in | Longs | Shorts | OI |
| Daily | 4% | 1% | 3% |
| Weekly | 11% | 30% | 13% |
What does it mean for price action? Get My Guide As the chart below shows, USD/CHF has continued to drop back after the US announcement even though the Swiss National Bank will now likely be more cautious about intervening in the markets to curb its strength that reflects, in part, Switzerland's persistently large current-account surpluses.
USD/CHF Price Chart, Four-Hour Timeframe (November 27, 2019 - January 16, 2020) 
Chart by IG (You can click on it for a larger image)
EUR/CHF has continued to drop too, even though SNB action to dissuade investors from buying the Franc when looking for a safe haven might be reduced in future.
EUR/CHF Price Chart, Four-Hour Timeframe (November 27, 2019 - January 16, 2020) Chart by IG (You can click on it for a larger image)
For a technical analysis of EUR/CHF click here
According to the SNB, its'interventions in the currency market are motivated purely by monetary policy considerations,' and it cited the negative effects on inflation and the economy from a too highly valued Franc. 'They are not aimed at bringing an advantage for Switzerland by making the Franc undervalued,' it added.
Nonetheless, SNB selling of Francs looks likely to drop and speculators may continue to buy the currency to test whether there are levels at which the central
bank feels it has no choice but to resume its buying of other currencies.
Recommended by Martin Essex, MSTA Trading Forex News: The Strategy Get My Guide --- Written by Martin Essex, Analyst and Editor
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