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USDCHF: Move up the low position

2022-10-28
599
Fundamental analysis:


The USD/Swiss franc remained volatile at around 0.98958. The core PEC price index recorded 4.5, lower than the previous value. The inflation pressure in the United States slowed down, which depressed the expectation of the Federal Reserve to raise interest rates, thus supporting the Swiss franc.


USD/CHF USDCHF - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the low bulls' momentum has kept moving up in shock, and short-term bullish sentiment has begun to be shrouded. The MACD indicator is in the short region, and the low position has moved up, while the RSI indicator is in the weak position below the 50 equilibrium line;


Empty turning point: 0.98958


Pressing: 0.99272, 0.99460


Support: 0.98770, 0.98565


Trading strategy: bullish above 0.98958, target 0.99272, 0.99460


Alternative strategy: bearish at 0.98958, target 0.98770, 0.98565

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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