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USDCHF: low down

2023-07-14
779
Fundamental analysis:

USD/CHF remained oscillating around 0.85865, and core U.S. inflation is still well above the Fed’s 2% target. The Fed is almost certain to raise interest rates by 25 basis points this month.

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



Brief technical analysis:

Looking at the 4-hour chart: The short-term momentum remains volatile and downward, the short-term decline may continue, the market is shrouded in bearish sentiment, the MACD indicator is in the short-selling area and moves down, and the RSI indicator is in the short-selling area.

Resistance: 0.86362 0.86642

Support levels: 0.85642 0.85408

Trading strategy: bearish below 0.86029, target 0.85642 0.85408
Alternative strategy: Bullish above 0.86029, target 0.86362 0.86642

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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