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USDCHF: low recovery

2023-06-23
748
Fundamental analysis:

USD/CHF remained volatile around 0..89464. Chairman of the Swiss National Bank: refused to comment on how much Credit Suisse’s emergency liquidity loan has been repaid to the central bank. The stability of the newly established UBS Group will be assessed next year. The interest rate is This is complemented by our main tool, currency market intervention.

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



Brief technical analysis:

Looking at the 4-hour chart: the low level fluctuates upwards, the market’s bullish sentiment gradually emerges, and there are signs of continued recovery in the short term. The MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is hovering weakly near the 50 balance line;

Resistance levels: 0.89594 0.89739

Support levels: 0.89212 0.89079

Trading strategy: Bullish above 0.89365, target 0.89594 0.89739
Alternative strategy: bearish below 0.89365, target 0.89212 0.89079

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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