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Meirui: weak consolidation and upward movement

2022-07-05
1105
Fundamental analysis:


The US dollar remained volatile around 0.92092 against the Swiss franc. The annual CPI rate in Switzerland rose by 3.4% in June, exceeding economists' expectations. It is also the first time that the annual inflation rate in Switzerland has exceeded 3% since July 2008. This is the fifth consecutive month that prices are higher than the price stability target of the central bank.



USD CHF USDCHF - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the low-level bull power is maintained in the Bollinger waiting index channel, the upper track interval continues to move upward, the Bollinger belt index continues to move upward in a slow opening trend, the MACD index hovers above the 0 axis, and the RSI index is in a 50 balanced narrow range on the online side;


Long short turning point: 0.95941


Pressing position: 0.96432, 0.96763


Support position: 0.95622, 0.95325


Trading strategy: bullish above 0.95941, target 0.96432, 0.96763


Alternative strategy: bearish below 0.95941, target 0.95622, 0.95325

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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