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USDCHF: Fluctuating at high levels

2023-09-05
774
Fundamental analysis:

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

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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