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USDCHF: low volatility

2023-05-05
761
Fundamental analysis:

USD/CHF remained volatile around 0.88549. UBS has begun accepting subscriptions for bonds through its London subsidiary. The bank plans to issue at least 275 million Swiss francs ($310 million) of bonds. The offering includes 2-year and 6-year notes. The recommended yield for the 2-year bond is 50-55 basis points of the Swiss franc swap rate premium, and 65-70 basis points for the 6-year bond.

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



Brief technical analysis:

Looking at the 4-hour chart: the low-level short-term narrow-range shock reversed and moved up, the market's bullish sentiment began to emerge gradually, the MACD indicator remained in the short-term area, and the RSI indicator hovered weakly below the 50 balance line;

Resistance levels: 0.88639 0.88744

Support levels: 0.88381 0.88289

Trading strategy: Bullish above 0.88485, target 0.88639 0.88744
Alternative strategy: bearish below 0.88485, target 0.88381 0.88289

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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