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USDCHF: Bulls rally
2023-06-21
813
Fundamental analysis:
USD/CHF remained volatile around 0.89766. Switzerland’s trade surplus soared to 5.479 billion Swiss francs in May, the fourth largest trade surplus in the country’s history. The trade surplus shows that the Swiss central bank can withstand the appreciation of the Swiss franc, which is compatible with the current monetary policy.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum remains volatile and rising, the market is still bullish, and there are signs of continued upward movement in the short term, the MACD indicator maintains a volatile upward movement, and the RSI indicator is hovering weakly near the 50 balance line;
Resistance levels: 0.89890 0.90011
Support levels: 0.89574 0.89445
Trading strategy: Bullish above 0.89690, target 0.89890 0.90011
Alternative strategy: bearish below 0.89690, target 0.89574 0.89445
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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