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USDCHF: Shock and rise

2023-05-24
796
Fundamental analysis:

USD/CHF remained volatile around 0.90125. UBS suspended its application to establish a wholly-owned public offering fund in China. The bank is currently focusing on resolving regulatory issues arising from its merger with Credit Suisse. UBS has met with the China Securities Regulatory Commission this year to secure preliminary approval to submit applications for public funds.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum remains volatile and rising, the short-term bullish sentiment is shrouded, the market bullish momentum continues to move at a high speed, the MACD indicator is weakly finishing above the 0 axis, and the RSI indicator is hovering weakly above the 50 balance line;

Resistance levels: 0.90231 0.90378

Support levels: 0.89897 0.89744

Trading strategy: Bullish above 0.90038, target 0.90231 0.90378
Alternative strategy: bearish below 0.90038, target 0.89897 0.89744

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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