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USDCHF: Shock down

2022-12-29
1029
Fundamental analysis:
The USD/CHF remained volatile around 0.92896. The ZEW Investor Confidence Index in Switzerland in December was -42.8, compared with -57.5 before.

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



Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics are oscillating downward in a stepwise manner, the short-term decline may continue, the market as a whole is in a weak position, the MACD indicator is hovering weakly on the upper side of the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;
Long-short turning point: 0.92984
Suppression: 0.93131, 0.93262
Support: 0.92771, 0.92658
Trading strategy: bearish below 0.92984, target 0.92771, 0.92658
Alternative strategy: Bullish above 0.92984, target 0.93131, 0.93262

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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