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USDCHF: low pull up
2023-02-03
1031
Fundamental analysis:
USD/CHF remained volatile around 0.91354 as money markets increased bets on a 50 basis point rate hike by the European Central Bank in March, although bets on the peak of the tightening cycle have fallen below 3.5%. The Swiss franc fluctuated at a low level affected by it.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low-level bullish dynamics fluctuated and pulled up, short-term bullish sentiment began to emerge, the market’s bullish momentum gradually entered the market, the MACD indicator was in the short-selling area and slowly rose, and the RSI indicator was in the short-selling area and moved up to hover around the 50 balance line;
Long-short turning point: 0.91257
Suppression: 0.91490, 0.91540
Support: 0.91098, 0.90948
Trading strategy: Bullish above 0.91257, target 0.91490, 0.91540
Alternative strategy: bearish below 0.91257, target 0.91098, 0.90948
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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