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USDCHF: oscillating down
2023-08-22
725
Fundamental analysis:
USD/CHF remained volatile around 0.87845, UBS economists upgraded their ratings on global stock markets, as recent economic and inflation data beat expectations, and the U.S. economic growth was stronger than expected, reducing the possibility of a recession.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term dynamics fluctuate downward, the short-term decline may continue, the market as a whole continues to move down, the MACD indicator is in the bullish area, and the RSI indicator is hovering around the 50 balance line;
Resistance levels: 0.87973 0.88053
Support levels: 0.87760 0.87677
Trading strategy: bearish below 0.87879, target 0.87760 0.87677
Alternative strategy: Bullish above 0.87879, target 0.87973 0.88053
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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