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USDCHF: high rise

2023-05-19
801
Fundamental analysis:

USD/CHF remained volatile around 0.90506. As the political deadlock in the United States may drag the world's largest economy into default, investors have turned their attention to the Swiss franc. The Swiss franc is often regarded as a safe-haven alternative to the US dollar. It does well when cap issues strike.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum keeps oscillating and moving upwards, the short-term bullish sentiment is shrouded, the bullish momentum in the market is constantly rising, the MACD indicator is in the bullish zone and continues to rise, and the RSI indicator is hovering at a high level in the bullish zone;

Resistance levels: 0.90659 0.90791

Support levels: 0.90286 0.90122

Trading strategy: Bullish above 0.90441, target 0.90659 0.90791
Alternative strategy: bearish below 0.90441, target 0.90286 0.90122

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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