USDCHF: continuous upward attack by bulls

Fundamental analysis:

The survey released on Tuesday shows that the global economy is increasingly facing the risk of falling into recession, because the inflation rate, which has been at a high level for a generation, has suppressed consumer spending, while the central bank is actively tightening policies when the economy needs support. The supply chain has not yet recovered from the COVID-19 epidemic, and it has been further damaged by Russia's invasion of Ukraine and the strict epidemic control measures in Asia, which has hit the manufacturing industry.

USDCHF daily chart

Technical analysis:

According to the daily chart, the short-term exchange rate continues to rise strongly. The MACD operates under the 0 axis but the volume can continue to shrink under the 0 axis. The RSI continues to rise. It is expected that the short-term exchange rate will further rise.

Long and short turning point: 0.9600

Pressing bit: 0.9800 1.0000

Support position: 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