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USDCHF: Move higher

Fundamental analysis:

The US dollar against the Swiss franc remained fluctuating around 0.89363. Studer, chairman of the Swiss banking lobby group: Switzerland should join the G-7 working group on sanctions against Russia.

USDCHF USDCHF - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the high level is consolidating in a narrow range and slowly moving upwards, the market is bullish, and there are signs of continued upward movement in the short term. The MACD indicator is in the bullish zone and maintains consolidation, and the RSI indicator is in the bullish zone and is rising;

Resistance level: 0.89486 0.89603

Support level: 0.89173 0.89060

Trading strategy: Bullish above 0.89298, target 0.89486 0.89603
Alternative strategy: bearish below 0.89298, target 0.89173 0.89060

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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