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USDCHF: Bears plunge

2023-03-10
962
Fundamental analysis:

USD/CHF remained volatile around 0.93314, with Credit Suisse announcing that it would delay publishing its 2022 annual report following a call with the US Securities and Exchange Commission (SEC). The conversation was related to a "technical assessment of the revisions to the previously disclosed consolidated statement of cash flows for the years ended December 31, 2020 and 2019, and related internal controls."

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 market as a whole continues to move downward, the MACD indicator is hovering around the 0 axis, and the RSI indicator is below the 50 balance line.

Resistance levels: 0.93495 0.93625

Support levels: 0.93182 0.93065

Trading strategy: bearish below 0.93369, target 0.93182 0.93065
Alternative strategy: Bullish above 0.93369, target 0.93495 0.93625

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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