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USDCHF: Bulls climb higher
2023-03-16
905
Fundamental analysis:
USD/CHF remained volatile around 0.93288. The problems of American banks turned to the problems of European banks, first of all for Credit Suisse. This is pulling down the entire European banking sector.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is rising strongly, the short-term bullish sentiment is shrouded, the market bulls continue to move upward, the MACD indicator is in the short area and rises to hover around the 0 axis, and the RSI indicator is at the 50 balance line and moves upward;
Resistance levels: 0.93545 0.93778
Support levels: 0.92961 0.92736
Trading strategy: Bullish above 0.93200, target 0.93545 0.93778
Alternative strategy: bearish below 0.93200, target 0.92961 0.92736
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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