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USDCHF: low move down
2023-07-12
770
Fundamental analysis:
USD/CHF remained oscillating around 0.87944. The Fed seemed to indicate that it was at the end of the tightening cycle. Any disappointment could lead to a re-pricing by hawks, thus weakening the attractiveness 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 and move down, the short-term decline has not stopped, the market is shrouded in bearish sentiment, the MACD indicator is in the bearish zone and continues to decline, and the RSI indicator is in the bearish zone.
Resistance levels: 0.88084 0.88186
Support levels: 0.87839 0.87743
Trading strategy: bearish below 0.87983, target 0.87839 0.87743
Alternative strategy: Bullish above 0.87983, target 0.88084 0.88186
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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