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USDCHF: high position down

2023-05-16
787
Fundamental analysis:

USD/CHF remained oscillating around 0.89554 as the chief executive of UBS said a "full" investigation into Credit Suisse would be launched before UBS merged with Credit Suisse to form a new megabank. Credit Suisse Bank has repeatedly exposed financial scandals and major investment mistakes in the past few years, resulting in huge losses.

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



Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term momentum continues to fluctuate and move down, the short-term decline may continue, the market as a whole is in a continuous downward movement of short positions, the MACD indicator is in the bullish area, and the RSI indicator is hovering weakly above the 50 balance line;

Resistance levels: 0.89692 0.89797

Support levels: 0.89455 0.89353

Trading strategy: bearish below 0.89593, target 0.89455 0.89353
Alternative strategy: Bullish above 0.89593, target 0.89692 0.89797

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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