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USDCHF: Bears fall

2023-08-30
709
Fundamental analysis:

USD/CHF oscillates around 0.87836, record levels of government debt, geopolitical tensions threatening to split the global trading system, and the potential for persistently weak productivity growth could leave the world facing a future of slow growth, even in some countries Get stymied before you start. This provided safe-haven support for the Swiss franc.

US dollar Swiss franc USDCHF - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum has fallen sharply, the short-term decline may continue, the overall market is moving down strongly, the MACD index maintains shocks and moves down to the lower side of the 0 axis for consolidation, and the RSI index is weaker for consolidation below the 50 balance line;

Resistance levels: 0.88012 0.88124

Support levels: 0.87709 0.87586

Trading strategy: bearish below 0.87894, target 0.87709 0.87586
Alternative strategy: Bullish above 0.87894, target 0.88012 0.88124

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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