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USDCHF: Bulls climb higher
2023-01-12
1015
Fundamental analysis:
USD/CHF remained volatile around 0.93124, and the market now favors a probability of more than 75% that the Fed will raise interest rates by 25 basis points in February. Investors expect a further slowdown in inflation, weakening demand for a hawkish Federal Reserve to raise interest rates, a weaker dollar and a recovery in the Swiss franc.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the bulls is rising rapidly, the short-term bullish sentiment is shrouded, the market's bullish potential has exploded, the MACD indicator is in the short zone and moves up to the 0 axis, and the RSI indicator is on the side of the 50 balance line;
Long-short turning point: 0.93032
Suppression: 0.93297, 0.93455
Support: 0.92865, 0.92688
Trading strategy: Bullish above 0.93032, target 0.93297, 0.93455
Alternative strategy: bearish below 0.93032, target 0.92865, 0.92688
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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