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USDCHF: rising from highs

2023-09-06
636
Fundamental analysis:

USD/CHF remained volatile around 0.88940. Concerns about global economic growth caused the dollar to rise and U.S. bond yields to rise. Traders believe there is a 93 chance that the Federal Reserve will keep interest rates unchanged at its policy meeting on September 19-20. %, with about a 60% chance that interest rates will remain at current levels for the rest of the year.

USDCHF USDCHF - 4-hour K-line chart shows:



Brief technical analysis:

4-hour chart: The bullish momentum is rising at a high level, short-term bullish sentiment is shrouded, the market bulls are rising, the MACD indicator is at a high level in the bullish zone and is moving upward, and the RSI indicator is hovering at a high level in the bullish zone;

Resistance level: 0.89044 0.89138

Support level: 0.88785 0.88692

Trading strategy: Bullish above 0.88880, target 0.89044 0.89138
Alternative strategy: bearish below 0.88880, target 0.88785 0.88692

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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