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USDCHF: finishing up

2023-03-03
943
Fundamental analysis:

USD/CHF remained volatile around 0.94173, with investors still largely expecting the Fed to raise interest rates by 25 basis points at its next policy meeting later this month, but expectations for a 50 basis point hike have increased.

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



Brief technical analysis:

Looking at the 4-hour chart: the high level fluctuates slowly upwards within a narrow range, the market is still bullish, and there is a trend of continuing to move upward in the short term. The MACD indicator is in the bullish area and remains in order, and the RSI indicator is hovering above the 50 balance line;

Long-short turning point: 0.94076

Suppression: 0.94339, 0.94515
Support: 0.93874, 0.93689

Trading strategy: Bullish above 0.94076, target 0.94339, 0.94515
Alternative strategy: bearish below 0.94076, target 0.93874, 0.93689

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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