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USDCHF: sharp drop at high level

Fundamental analysis:

USD/CHF remained volatile around 0.92469. Judging from recent data performance, the US economy is still healthy and it seems that it will not enter a recession soon. Market pricing is reflecting the prospect that high interest rates will remain high for a longer period of time. The Fed swap market is fully pricing in 25 basis point hikes in March and May.

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

Brief technical analysis:

The 4-hour chart: After the bullish momentum rose strongly and fluctuated, it fell sharply when encountering obstacles, and the short-term short-term sentiment emerged, and the short positions in the market continued to fall. The MACD indicator was in the bullish zone, and the RSI indicator was in the bullish zone. Down;

Long-short turning point: 0.92538

Suppression: 0.92679, 0.92807
Support: 0.92329, 0.92187

Trading strategy: bearish below 0.92538, target 0.92329, 0.92187
Alternative strategy: Bullish above 0.92538, target 0.92679, 0.92807

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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