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USDCHF: Shock down

2023-03-22
858
Fundamental analysis:

USD/CHF remained volatile around 0.92225. The collapse of Credit Suisse was triggered by the collapse of Silicon Valley Bank and Signature Bank in the US. While European bank stocks have rebounded recently after losses, investors remain concerned about other ticking time bombs in the banking system.

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



Brief technical analysis:

Looking at the 4-hour chart: After the short-term narrow range shock, the short-term momentum began to move downward, and the market's short-term sentiment emerged. The MACD indicator hovered around the 0 axis, and the RSI indicator was weakly finishing below the 50 balance line;

Resistance levels: 0.92562 0.92793

Support levels: 0.91981 0.91757

Trading strategy: bearish below 0.92317, target 0.91981 0.91757
Alternative strategy: bullish above 0.92317, target 0.92562 0.92793

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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