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USDCHF: range-bound
2023-08-01
757
Fundamental analysis:
USD/CHF remained volatile around 0.87170 as traders bet that weakening U.S. inflation could deter the Federal Reserve from raising interest rates further, while gold bulls hoped that other central banks such as the European Central Bank were also more or less close to ending rate hikes.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum maintains a range shock after a strong pull-up, the market bull sentiment weakens, but the range shock may continue, the MACD index is weakly finishing above the 0 axis, and the RSI index is hovering weakly above the 50 balance line;
Resistance levels: 0.87339 0.87525
Support levels: 0.86926 0.86754
Trading strategy: Bullish above 0.87093, target 0.87339 0.87525
Alternative strategy: bearish below 0.87093, target 0.86926 0.86754
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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