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USDCHF: low move down
2023-07-27
830
Fundamental analysis:
USD/CHF remained volatile around 0.86072. Swiss investor confidence fell further in July as market sentiment indicated that the economy would decline further. The outlook for Switzerland's main trading partners, namely the United States and the euro zone, is also darker, leading to lower export expectations in the coming months.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The short-term momentum maintains a low level of shocks and moves downward, the short-term decline has not stopped, the market is shrouded in bearish sentiment, the MACD indicator is weakly hovering below the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;
Resistance levels: 0.86483 0.86719
Support levels: 0.85864 0.85658
Trading strategy: bearish below 0.86192, target 0.85864 0.85658
Alternative strategy: Bullish above 0.86192, target 0.86483 0.86719
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