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USDCHF: High level oscillation downlink

2022-10-18
1103
Fundamental analysis:


USD/CHF remained volatile at 0.99451. Kier Boley, information officer of Swiss private bank, said that according to the trend of British asset prices, many fund managers are expected to cut bearish positions or take profits before the weekend, because the British government will obviously take some policy actions.


USD/CHF USDCHF - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the momentum of high short positions remains volatile and moves downward, and the short-term decline may continue. Short positions emerge in the market. The MACD index stays in the long position and moves downward to hover near the 0 axis, while the RSI index is in the weak position under the 50 equilibrium line;


Empty turning point: 0.99541


Pressing: 0.99798, 1.00080


Support: 0.99225, 0.99021


Trading strategy: 0.99541 lower bearish, target 0.99225, 0.99021


Alternative strategy: 0.99541 upside bullish, target 0.99798, 1.00080

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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