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USDCHF: Bulls climb higher

Fundamental analysis:

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:

Brief technical analysis:

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

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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