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Economic data determine monetary policy, and the US dollar continues to decline against the Swiss franc

2022-05-27
943
Fundamental analysis:

The economic data released on Thursday, including the number of initial jobless claims, pending sales of existing homes and gross domestic product (GDP), were mixed, indicating that the weakness of the economy was just enough to prompt the Federal Reserve to turn dove before the autumn

USDCHF daily chart:


Technical analysis: the daily moving average is arranged in a short position, and the exchange rate continues to decline. MACD runs above the 0 axis, but the volume can continue to shrink significantly on the 0 axis. RSI drops rapidly, and it is expected that the probability of short-term exchange rate will further decline.

Long short turning point: 0.9730

Pressing bit: 0.9870 1.0000

Support position: 0.9600 0.9480

Trading strategy: bearish below 0.9730, target 0.9600, 0.9480

Alternative strategy: bullish above 0.9730, target 0.9870, 1.0000


The above analysis is a personal point of view and is for reference only.

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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