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USDCHF: Huge shock falls
2022-12-05
1092
Fundamental analysis:
USD/CHF remained volatile around 0.93733. Swiss National Bank Deputy Governor Schlegel has made it clear that the central bank will continue to fight inflation, which supports expectations of further interest rate hikes in December. In view of the impact of the devaluation of the Swiss franc on inflation, the Swiss National Bank also retains the possibility of intervening in the depreciation of the Swiss franc.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum continues to fluctuate downwards, and the low-level huge shock pulls up and then falls again. The market is shrouded in bearish sentiment, short-term or entangled in low-level fluctuations, the MACD indicator is in the short-term consolidation, and the RSI indicator is hovering weakly below the 50 balance line;
Long-short turning point: 0.93756
Suppression: 0.93928, 0.94122
Support: 0.93490, 0.93296
Trading strategy: bearish below 0.93756, target 0.93490, 0.93296
Alternative strategy: Bullish above 0.93756, target 0.93928, 0.94122
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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