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USDCHF: Low V-shaped reversal

Fundamental analysis:

USD/CHF remained volatile around 0.91658, and whether the Fed sees it appropriate to cut interest rates later in 2023, or keep rates steady - as implied by the Fed's comments - will further affect the Swiss franc.

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

Brief technical analysis:

Looking at the 4-hour chart: After the short-term dynamics fluctuated and fell rapidly, they quickly pulled up again, showing a V-shaped reverse pull-up trend, but the downward trend remains, the MACD indicator is in the short-term area, and the RSI indicator is in the short-term area.
Long-short turning point: 0.91742

Suppression: 0.92001, 0.92213
Support: 0.91444, 0.91214

Trading strategy: bearish below 0.91742, target 0.91444, 0.91214
Alternative strategy: Bullish above 0.91742, target 0.92001, 0.92213

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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