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USDCHF: rapid rise

2023-07-28
818
Fundamental analysis:

USD/CHF remained oscillating around 0.86916. The Federal Reserve announced that the Bank of England Prudential Regulation Authority will also impose a fine on the new owner of Credit Suisse. It also said that the total fines of the two regulators are about 387 million US dollars. The action against UBS was carried out jointly with the Swiss Financial Market Supervisory Authority.

US dollar Swiss franc USDCHF - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the low-level bulls are rising rapidly, the market is shrouded in bullish sentiment, the MACD indicator is oscillating near the 0 axis, and the RSI indicator is oscillating in the bullish area above the 50 balance line;

Resistance levels: 0.87166 0.87393

Support levels: 0.86531 0.86283

Trading strategy: Bullish above 0.86779, target 0.87166 0.87393
Alternative strategy: bearish below 0.86779, target 0.86531 0.86283

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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