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USDCHF: Bears fall sharply
2023-02-01
1130
Fundamental analysis:
The USD/CHF remained volatile around 0.91552. The actual annual retail sales rate in Switzerland in December was -2.8%, compared with the previous value of -1.30%. The biggest drop since April 2022.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: The short-term momentum has fallen rapidly, the short-term decline has not stopped, the market is shrouded in bearish sentiment, and there is a further downward trend in the short-term, the MACD index maintains shocks and moves down to the lower side of the 0 axis for consolidation, and the RSI index is below the 50 balance line Weak side wandering;
Long-short turning point: 0.91625
Suppression: 0.91791, 0.91956
Support: 0.91393, 0.91254
Trading strategy: bearish below 0.91625, target 0.91393, 0.91254
Alternative strategy: Bullish above 0.91625, target 0.91791, 0.91956
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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