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USDCHF: rapid decline
2022-11-07
1028
Fundamental analysis:
The USD/Swiss franc remained volatile around 0.99427. UBS predicted that the Swiss Central Bank would raise interest rates to 1% in December and 1.25% in March 2023. Credit Suisse expects the SNB to raise interest rates by 25 basis points in December and another 25 basis points in March. The Swiss Central Bank will announce its monetary policy decision on December 15.
USD/CHF USDCHF - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that short positions emerge in the market, and the short-term decline may continue. The market as a whole continues to move downward after a sharp decline. The MACD index is in the long region and moves downward, while the RSI index is in the lower side of the 50 equilibrium line;
Empty turning point: 0.99,560
Pressing: 0.99816, 1.00078
Support: 0.99156, 0.98906
Trading strategy: bearish at 0.99560, target 0.99156, 0.98906
Alternative strategy: bullish above 0.99560, target 0.99816, 1.00078
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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