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USDCHF: finishing moves up
2023-01-30
1046
Fundamental analysis:
The USD/CHF remained volatile around 0.92114, and the market doubted whether it was preparing to increase short positions in the USD before next week's FOMC meeting. If the Fed suppressed the market's current expectation of two cumulative interest rate hikes of 50 basis points this year, this could constitute a positive event for the Swiss franc risk.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum maintains a narrow range of consolidation upward, the short-term bullish sentiment emerges, the market is gradually bullish and the upward trend is clear, the MACD indicator is in a weak consolidation on the upper side of the 0 axis, and the RSI indicator is in a weak consolidation near the 0 balance line;
Long-short turning point: 0.92025
Suppression: 0.92272, 0.92417
Support: 0.91850, 0.91690
Trading strategy: Bullish above 0.92025, target 0.92272, 0.92417
Alternative strategy: bearish below 0.92025, target 0.91850, 0.91690
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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