USDCHF: high rise
2023-08-02
827
Fundamental analysis:
USD/CHF remained volatile around 0.87504. Switzerland’s largest bank UBS (full name: UBS Group) believes that the risk of Russian customers’ compliance is too high and plans to close most Russian accounts in Credit Suisse.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level bullish momentum continues to fluctuate upwards, and the short-term bullish sentiment is shrouded. The MACD indicator is in the high-level order in the bullish zone, and the RSI indicator is hovering in the bullish zone;
Resistance levels: 0.87652 0.87813
Support levels: 0.87277 0.87132
Trading strategy: Bullish above 0.87430, target 0.87652 0.87813
Alternative strategy: bearish below 0.87430, target 0.87277 0.87132
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