USD/CHF remained volatile around 0.88436. The annual rate of GDP in the second quarter of Switzerland was 0.5%, expected 0.50%, and the previous value was 0.60%.
USDCHF USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high level remains volatile in the short term, the bull power of the market weakens, and the short power waits for an opportunity to enter the market. The overall trend is in a high level consolidation, the MACD indicator is in the bull zone and remains volatile, and the RSI indicator is hovering weakly above the 50 equilibrium line;
Resistance level: 0.88557 0.88642
Support level: 0.88354 0.88264
Trading strategy: bearish below 0.88476, target 0.88354 0.88264
Alternative strategy: bullish above 0.88476, target 0.88557 0.88642