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USDCHF: multi head accumulated kinetic energy
2022-08-26
1168
Fundamental analysis:
In the early trading of the Asian market on Friday (August 26), the US dollar index rose slightly, and it is currently trading near 108.46. The US dollar index fell on Thursday, while the euro held steady in volatile trading as investors waited for the speech of US Federal Reserve Chairman Powell on Friday to seek further clues about the pace of US Federal Reserve interest rate hike.
USDCHF daily chart
Technical analysis:
According to the daily chart, the short-term exchange rate continues to rise strongly. The MACD operates under the 0 axis, but the kinetic energy around the 0 axis is insufficient. The RSI falls slightly. It is expected that the short-term exchange rate will further rise after consolidation.
Long and short turning point: 0.9600
Pressing bit: 0.9800 1.0000
Support position: 0.9400 0.9200
Trading strategy: bullish above 0.9600, target 0.9800, 1.0000
Alternative strategy: bearish below 0.9600, target 0.9400, 0.9200
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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