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USDCHF: low up

2023-06-20
700
Fundamental analysis:

USD/CHF remained volatile around 0.89573. UBS Group completed the emergency acquisition of Credit Suisse Bank. The Swiss Federal Government and UBS confirmed that the two parties had signed a loss protection agreement on the transaction.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum fluctuates upwards at a low level, the short-term bullish sentiment remains, the market bulls continue to fluctuate and move upward, the MACD indicator is in the bearish area and maintains a shock upward movement, and the RSI indicator is hovering weakly below the 50 balance line;

Resistance levels: 0.89707 0.89849

Support levels: 0.89368 0.89213

Trading strategy: Bullish above 0.89500, target 0.89707 0.89849
Alternative strategy: bearish below 0.89500, target 0.89368 0.89213

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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