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Swiss price index soars, USD/CHF down again

2022-06-03
950
Fundamental analysis:
The dollar fell 0.5% against the Swiss franc after Swiss prices posted their biggest rise in 14 years in May, making Switzerland the latest country in the world to be hit by higher fuel and food prices.
USD/CHF daily chart:

Technical analysis: The daily moving averages are in a bearish arrangement, the exchange rate rebounds slightly and then quickly declines, the MACD runs below the 0-axis and the volume is slightly under the 0-axis, and the RSI is slowly declining. It is expected that the short-term exchange rate will likely further decline.
Long-short turning point: 0.9730
Suppression bit: 0.9870 1.0000
Support: 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 opinion 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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