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USDCHF: Bulls rally

Fundamental analysis:

USD/CHF remained volatile around 0.88041. The Swiss trade account in July was 3.129 billion Swiss francs, compared with the previous value of 4.823 billion Swiss francs.

US dollar Swiss franc USDCHF - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum fluctuates and rises at a high level, the short-term bullish sentiment remains, the bulls in the market are constantly pulling up, the MACD indicator is weakly finishing near the 0 axis, and the RSI indicator is hovering weakly above the 50 balance line;

Resistance levels: 0.88126 0.88207

Support levels: 0.87911 0.87827

Trading strategy: Bullish above 0.87994, target 0.88126 0.88207
Alternative strategy: bearish below 0.87994, target 0.87911 0.87827

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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