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USDCHF: sharp drop at low level
2023-02-02
985
Fundamental analysis:
USD/CHF remained volatile around 0.90867. The Federal Reserve raised its benchmark interest rate by 25 basis points to a range of 4.50%-4.75%, which was in line with market expectations and slowed down the pace of rate hikes for the second time in a row.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The short-term momentum maintains shocks and falls rapidly, and the short-term decline may continue. The market is shrouded in bearish sentiment, and there is a trend of continuous downward movement in the short term. ;
Long-short turning point: 0.90972
Suppression: 0.91140, 0.91304
Support: 0.90711, 0.90557
Trading strategy: bearish below 0.90972, target 0.90711, 0.90557
Alternative strategy: Bullish above 0.90972, target 0.91140, 0.91304
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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