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USDCHF: high move up

2023-03-01
971
Fundamental analysis:

USD/CHF remained volatile around 0.94178, with investors now expecting the U.S. federal funds rate to peak at just over 5.4% in September, compared with earlier this month's peak of around 4.70% in July.

US dollar Swiss franc USDCHF - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the momentum of the high-level bulls fluctuated and moved up again, and they were about to break through the previous high-level node. The bullish sentiment in the market remained, the MACD indicator remained in the bullish zone, and the RSI indicator remained in the bullish zone and moved upward;

Long-short turning point: 0.94093

Compression: 0.94339, 0.94502
Support: 0.93920, 0.93735

Trading strategy: Bullish above 0.94093, target 0.94339, 0.94502
Alternative strategy: bearish below 0.94093, target 0.93920, 0.93735

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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