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USDCHF: high order
2023-08-29
524
Fundamental analysis:
USD/CHF remained volatile around 0.88377. UBS survey showed that the group is expected to make a profit of US$33.5 billion. The main driving factor may be the book profits (“bad debts”) brought about by the emergency acquisition of Credit Suisse planned by the Swiss government in March. UBS is due to report its quarterly report on Aug. 31, and Credit Suisse also consolidated for the first time in June.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: high short-term shocks and retracements, market sentiment emerges, and there are signs of continued shocks and downward movement in the short term. MACD indicator is in the bullish area and moves down from highs, and RSI indicator is in weak order on the side of the 50 balance line;
Resistance levels: 0.88532 0.88627
Support levels: 0.88260 0.88141
Trading strategy: bearish below 0.88377, target 0.88260 0.88141
Alternative strategy: bullish above 0.88377, target 0.88532 0.88627
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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