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USDCHF: Bears plunge

2022-12-01
1108
Fundamental analysis:

USD/CHF remained volatile around 0.94527, Swiss National Bank: According to the current plan, Switzerland’s funding needs this year will be close to 8 billion Swiss francs, and the registered claims for outstanding debt in the money market will remain in the range of 12 billion to 18 billion Swiss francs. Issue bonds with a face value of CHF 8 billion in 2023.

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, and the short-term decline may continue. The market as a whole is in a bearish downward trend. The MACD indicator is hovering weakly above the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;
Long-short turning point: 0.94596
Suppression: 0.94777, 0.94980
Support: 0.94352, 0.94185
Trading strategy: bearish below 0.94596, target 0.94352, 0.94185

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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