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USDCHF: Bulls move up
2023-07-06
791
Fundamental analysis:
USD/CHF remained volatile around 0.89667, Switzerland's financial regulator should be strengthened following the bankruptcy of Credit Suisse. Credit Suisse's problems have exposed the limits of the supervisory capacity of the Swiss Financial Market Supervisory Authority (Finma), which lawmakers should give the regulator the ability to impose fines.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum remains oscillating and moving up, the market’s bullish sentiment continues, and there is a trend of continuing to move upward in the short term. The MACD indicator is weakly finishing above the 0 axis, and the RSI indicator is hovering weakly above the 50 balance line;
Resistance levels: 0.89937 0.90004
Support levels: 0.89756 0.89680
Trading strategy: Bullish above 0.89828, target 0.89937 0.90004
Alternative strategy: bearish below 0.89828, target 0.89756 0.89680
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