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USDCHF: Bears plunge
2023-07-13
755
Fundamental analysis:
USD/CHF remained volatile around 0.86842. The United States released CPI data for June. The annual rate of overall and core inflation was lower than expected. The central bank may need to raise interest rates further to ensure that the price growth rate falls back to the Fed’s 2% target, but the tightening cycle is coming to an end .
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 is shrouded in bearish sentiment, the MACD indicator is in the bearish zone and continues to move down, and the RSI indicator is in the bearish zone.
Resistance levels: 0.87079 0.87302
Support levels: 0.86544 0.86360
Trading strategy: bearish below 0.86842, target 0.86544 0.86360
Alternative strategy: Bullish above 0.86842, target 0.87079 0.87302
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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