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USDCHF: Bulls are consolidating and gaining momentum
2022-09-05
1164
Fundamental analysis:
On Friday (September 2), the U.S. dollar index remained volatile and climbed. The Federal Reserve maintained a hawkish tone, increasing the attractiveness of the U.S. dollar. At the same time, concerns about economic recession in Europe and the United Kingdom put downward pressure on the overall non-U.S. economy and intensified. the dollar rose.
USD/CHF USDCHF daily chart
A brief technical analysis:
From the daily chart: the short-term exchange rate has risen slightly and then fell slightly. MACD is running on the 0 axis and the volume can be slightly increased. The RSI is slightly higher. It is expected that the short-term exchange rate will likely further rise after finishing.
Long and short turning point: 0.9600
Suppression bit: 0.9800 1.0000
Support level: 0.9400 0.9200
Trading strategy: bullish above 0.9600, target 0.9800, 1.0000
Alternative strategy: bearish below 0.9600, target 0.9400, 0.9200
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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