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USDCHF: High level consolidation

Fundamental analysis:

USD/CHF remains volatile around 0.89131, as UBS is trying to win support from international investors for its historic acquisition of Credit Suisse. This month, Norges Bank Investment Management (NBIM), which manages the world's largest sovereign wealth fund, increased its stake in UBS to more than 5%.

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

Brief technical analysis:

Looking at the 4-hour chart: the high level remains consolidated in the short term, the market's long and short forces are in a state of anxiety, the MACD indicator is in the long zone and remains consolidated, and the RSI indicator is hovering weakly above the 50 equilibrium line;

Resistance level: 0.89245 0.89377

Support level: 0.88952 0.88845

Trading strategy: Bullish above 0.89076, target 0.89245 0.89377
Alternative strategy: bearish below 0.89076, target 0.88952 0.88845

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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