USDCHF: High level consolidation

USD/CHF remained volatile around 0.89338, with senior Fed officials hinting that the Fed would keep interest rates unchanged at its September meeting. But they refused to declare victory in the fight against inflation. Lorie Logan, president of the Federal Reserve Bank of Dallas and a voting member of the 2023 Federal Open Market Committee (FOMC), became the latest official to support keeping the benchmark interest rate at a 22-year high at the FOMC meeting later this month.

USDCHF USDCHF - 4-hour K-line chart shows:

Looking at the 4-hour chart: the high level remains volatile in the short term, the market's bullish sentiment remains, and there is a continued upward movement in the short term. The MACD indicator is consolidating at a high level in the bullish zone, and the RSI indicator remains hovering in the bullish zone;

Resistance level: 0.89429 0.89527

Support level: 0.89158 0.89049

Trading strategy: Bullish above 0.89275, target 0.89429 0.89527

Alternative strategy: bearish below 0.89275, target 0.89158 0.89049