USDCHF: Bulls climb higher

The U.S. dollar remained volatile against the Swiss franc at around 0.88329. UBS’s net profit in the second quarter was US$29 billion, including US$29 billion in negative goodwill from Credit Suisse; total revenue was US$9.54 billion. In the second quarter, wealth management’s pre-tax profit was US$1.11 billion, investment banking’s pre-tax profit was US$139 million, and asset management’s pre-tax profit was US$90 million. UBS Global Wealth Management’s net fee-based assets in the second quarter were US$16.2 billion.

USDCHF USDCHF - 4-hour K-line chart shows:

Looking at the 4-hour chart: The bullish momentum has fluctuated strongly and risen, and it has continued to move upward in the short term. The market as a whole continues to rise. The MACD indicator is in the short zone and has moved up to hover near the 0 axis. The RSI indicator is weakly consolidating above the 50 equilibrium line;

Resistance levels: 0.88418 0.88506

Support level: 0.88201 0.88111

Trading strategy: Bearish below 0.88281, target 0.88418 0.88506

Alternative strategy: bullish above 0.88281, target 0.88201 0.88111