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USDCHF: high level narrow range consolidation and pullback
2022-09-06
1104
Fundamental analysis:
The USD / Swiss Franc fluctuated around 0.97830. Switzerland's GDP in the second quarter was 2.8%, expected to be 3.00%, and the previous value was 4.40%. The Swiss government is making efforts to improve the power production and reserve capacity this winter, but this is not enough to deal with the risk, and more measures need to be taken.
US Dollar Swiss Franc (USDCHF) - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the high level fluctuates in a narrow range, the short power shows signs of waiting for an opportunity to enter the market, the mad index is in the high level shock retreat of the long area, and the RSI index is in the weak side of the 50 equilibrium line;
Long and short turning point: 0.97899
Pressing position: 0.98142, 0.98390
Support position: 0.97557, 0.97302
Trading strategy: bearish below 0.97899, target 0.97557, 0.97302
Alternative strategy: bullish above 0.97899, target 0.98142, 0.98390
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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