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USDCHF: high falling rapidly

2022-09-08
488
Fundamental analysis:


The USD / Swiss Franc fluctuated around 0.97597, and Switzerland's foreign exchange reserves in August were 859.64 billion Swiss francs, with a previous value of 849.4 billion Swiss francs.


US Dollar Swiss Franc (USDCHF) - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the short-term high level fluctuated widely, the short motive power was waiting for the opportunity to enter the market and fell rapidly, the short sentiment began to cover, the MACD index was in the bull area and remained in the shock downward, and the RSI index was in the lower side of the 50 equilibrium line;


Long and short turning point: 0.97669


Pressing position: 0.97882, 0.98118


Support position: 0.97380, 0.97179


Trading strategy: bearish below 0.97669, target 0.97380, 0.97179


Alternative strategy: bullish above 0.97669, target 0.97882, 0.98118

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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