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USDCHF: Bulls continue to edge up
2022-09-15
1133
Fundamental analysis:
In early Asian trading, the U.S. dollar index was trading around 109.64. The U.S. dollar index fell 0.1% on Wednesday. U.S. producer prices fell for the second consecutive month in August. The dollar fell against the yen after the Bank of Japan conducted an exchange rate inquiry. Investors digested U.S. producer price data as they prepared for intervention in currency markets.
USD/CHF USDCHF daily chart
A brief technical analysis:
From the daily chart: the short-term exchange rate continues to rise slightly, the MACD is running near the 0-axis and the volume can be slightly increased, and the RSI is slightly higher. It is expected that the short-term exchange rate will likely rise further.
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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