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USDCHF: Bears move down

Fundamental analysis:

USD/CHF remained volatile near 0.88966. The Bloomberg Fortune Asia Summit held in Hong Kong attracted funds from Credit Suisse. The market is not worried about the merger of UBS and Credit Suisse. HSBC's asset growth was partly contributed by Credit Suisse clients.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term dynamics fluctuate downward, and the short-term decline may continue. In the overall bearish trend of the market, the MACD indicator is weakly finishing on the upper side of the 0 axis, and the RSI indicator is weakly hovering near the 50 balance line;

Resistance levels: 0.89153 0.89265

Support levels: 0.88862 0.88767

Trading strategy: bearish below 0.89009, target 0.88862 0.88767
Alternative strategy: Bullish above 0.89009, target 0.89153 0.89265

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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