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USDCHF: rebound or end

2022-11-22
1142
Fundamental analysis:


The US dollar index traded near 107.80; The US dollar rose against most major currencies on Monday, recovering its recent losses, as the epidemic intensified concerns about the global economic outlook and made traders avoid riskier goods.


USDCHF Daily Chart



Technical analysis:


From the daily chart, we can see that the short-term exchange rate continued to rebound upward and hit the long short turning area. The MACD went down at the lower turning point of the 0 axis and the volume could continue to shrink. The RSI rebounded slightly. It is expected that the short-term exchange rate will further rebound upward and look for short selling opportunities in the medium term.


Empty turning point: 0.9600


Pressing position: 0.9800 1.0000


Support position: 0.9400 0.9200


Trading strategy: bearish below 0.9600, target 0.9400, 0.9200


Alternative strategy: bullish above 0.9600, target 0.9800, 1.0000

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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