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USDCHF: hovering high

Fundamental analysis:

USD/CHF remains volatile around 0.89082, as UBS Group AG will cut hundreds of wealth management jobs in Asia months after completing its acquisition of rival Credit Suisse. Sluggish customer activity and a sluggish economy in the region.

USDCHF USDCHF - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: The high level remains weak in the short term, the market's short sentiment gradually emerges, and there are signs of a downward movement in the short term. The MACD indicator is in the bullish zone and fluctuates downward, and the RSI indicator is hovering weakly above the 50 equilibrium line;

Resistance level: 0.89275 0.89377

Support level: 0.88969 0.88845

Trading strategy: Bearish below 0.89147, target 0.88969 0.88845
Alternative strategy: bullish above 0.89147, target 0.89275 0.89377

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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