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USDCHF: high position up and back
2022-11-04
1214
Fundamental analysis:
The USD/CHF remained volatile around 1.01027, and the annual CPI rate of Switzerland in October remained stable compared with the previous month. In terms of prices, the prices of gasoline, heating oil and mobile communications in Switzerland rose in October, as did the prices of clothing and footwear. In contrast, the comprehensive quotation of fixed telephone and mobile communication, fuel and new cars has declined.
USD/CHF USDCHF - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' driving force is strong, and they retreat when they reach the previous high, but the upward trend is good. The MACD index is in the high consolidation of the bulls' region, and the RSI index is in the long region and remains hovering;
Empty turning point: 1.00914
Pressing: 1.01,250, 1.01,495
Support: 1.00704, 1.00471
Trading strategy: 1.00914 upside bullish, target 1.01250, 1.01495
Alternative strategy: bearish at 1.00914, target 1.00704, 1.00471
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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