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USDCHF: low volatility

2023-04-27
884
Fundamental analysis:

USD/CHF remained volatile around 0.89104. Credit Suisse's problems led to a large outflow of assets and deposits, affecting assets under management (AuM) of 1.3 billion Swiss francs. Deposit outflows accounted for 57% of wealth management and UBS net asset outflows in the quarter. That means it experienced net outflows worth more than 61 billion Swiss francs in the three-month period to March.

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



Brief technical analysis:

Looking at the 4-hour chart: the low level fluctuated widely and then pulled up, but it is still in a low downward trend, and the signs of the shock trend have not changed. The MACD indicator is finishing at the lower side of the 0 axis, and the RSI indicator is hovering weakly near the 50 balance line;

Resistance levels: 0.89337 0.89470

Support levels: 0.88923 0.88723

Trading strategy: bearish below 0.89151, target 0.88923 0.88723
Alternative strategy: Bullish above 0.89151, target 0.89337 0.89470

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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