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USDCHF: High level consolidation
2023-09-13
442
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
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