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USDCHF: High level retreat in case of obstruction
2022-10-12
1055
Fundamental analysis:
The USD/Swiss franc remained volatile around 0.99667. The Federal Reserve's Vice Chairman Brainard said that the Federal Reserve clearly needs to adopt restrictive monetary policies to reduce inflation, but the path and speed of interest rate increase will still "depend on data". Swiss franc risk aversion continues, but there must be clear signs that the Federal Reserve is willing to give up raising interest rates and slowing inflation.
USD/CHF USDCHF - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of high short positions retreated rapidly, market short positions emerged, and the short term began to fluctuate downward. The MACD index moved slowly down in the long area, and the RSI index was in the 50 balanced online weak position;
Empty turning point: 0.99769
Pressing: 1.00080, 1.00307
Support: 0.99363, 0.99099
Trading strategy: bearish at 0.99769, target 0.99363, 0.99099
Alternative strategy: bullish above 0.99769, target 1.00080, 1.00307
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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