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USDCHF: Shock and pull up

2023-01-31
1024
Fundamental analysis:

USD/CHF remained volatile around 0.92516, as economic confidence recovered further at the beginning of the year, Switzerland's main economic barometer continued to improve, while the economic outlook for the region became less bleak.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is slowly rising within a narrow range, the market is shrouded in bullish sentiment, the bullish momentum continues to move upward, the MACD indicator is on the upper side of the 0 axis, and the RSI indicator is hovering weakly on the upper side of the 50 balance line;

Long-short turning point: 0.92438

Suppression: 0.92712, 0.92902
Support: 0.92253, 0.92089

Trading strategy: Bullish above 0.92438, target 0.92712, 0.92902
Alternative strategy: bearish below 0.92438, target 0.92253, 0.92089

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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