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USDCHF: Bears plunge
2023-06-09
756
Fundamental analysis:
USD/CHF remained volatile around 0.89901, Swiss National Bank President Jordan: Inflation is more persistent than we expected. We are seeing second and third round effects of inflation. Bringing inflation to a stable level is very important. Swiss interest rates are relatively low, and inaction is not a good idea. The Swiss franc rose against both the euro and the dollar, with Swiss National Bank President Michael Jordan signaling action.
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 mood. The MACD indicator is in the bearish zone and moves down rapidly, and the RSI indicator is in the bearish zone.
Resistance levels: 0.90099 0.90237
Support levels: 0.89766 0.89647
Trading strategy: bearish below 0.89964, target 0.89766 0.89647
Alternative strategy: Bullish above 0.89964, target 0.90099 0.90237
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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