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USDCHF: high and rising
2023-02-24
1005
Fundamental analysis:
USD/CHF remained volatile around 0.93355, and the expansion of the U.S. economy will slow down sharply, or even shrink. Rising interest rates and high inflation are forcing consumers and businesses to cut spending and investment, especially in rate-sensitive sectors like housing and construction.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: high-level bulls continue to fluctuate and rise, the short-term bullish sentiment remains, the market as a whole is in a bullish upward trend, the MACD indicator is in the bullish zone and moves upwards, and the RSI indicator is in the bullish zone and continues to rise;
Long-short turning point: 0.93283
Suppression: 0.93461, 0.93570
Support: 0.93161, 0.93040
Trading strategy: Bullish above 0.93283, target 0.93461, 0.93570
Alternative strategy: bearish below 0.93283, target 0.93161, 0.93040
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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