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USDCHF: Bears move down
2023-06-25
742
Fundamental analysis:
USD/CHF remained volatile around 0.89781. The Swiss National Bank raised interest rates by 25 basis points to 1.75% as scheduled this week. Although they lowered their inflation forecasts for the year, officials insisted that the Swiss economy is not out of danger.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics are oscillating downward, the short-term decline may continue, the market as a whole is in a continuous downward trend, the MACD indicator is hovering around the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;
Resistance levels: 0.89912 0.90031
Support levels: 0.85594 0.89475
Trading strategy: bearish below 0.89781, target 0.85594 0.89475
Alternative strategy: bullish above 0.89781, target 0.89912 0.90031
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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