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USDCHF: low move down
2023-07-11
745
Fundamental analysis:
USD/CHF remained volatile around 0.88523. The Saudi National Bank (SNB) had hoped to increase its stake in Credit Suisse from 9.88% to around 40%, but was blocked by the Swiss Financial Market Supervisory Authority (FINMA).
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum is down at a low level, the short-term decline continues to fall, the market is shrouded in bearish sentiment, the MACD indicator is in the short-selling area and continues to move down, and the RSI indicator is out of the short-selling area to maintain shocks;
Resistance levels: 0.88668 0.88762
Support levels: 0.88440 0.88354
Trading strategy: bearish below 0.88570, target 0.88440 0.88354
Alternative strategy: bullish above 0.88570, target 0.88668 0.88762
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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