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USDCHF: Shock down

Fundamental analysis:

USD/CHF remained volatile around 0.89778, as Credit Suisse employees were preparing to sue the Swiss financial regulator over a $400 million bonus that was canceled after UBS bailed out the bank. Some of the bonuses of Credit Suisse's thousands of senior bankers are tied to the group's AT1 bonds, which were written down to zero in a government-engineered takeover in March.

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

Brief technical analysis:

The 4-hour chart: the short-term dynamics fluctuate downward, and the short-term decline may continue. The market as a whole is in a downward trend of short positions. The MACD indicator is in the bullish area and moves down to hover around the 0 axis. The RSI indicator is near the 50 balance line. wandering in weakness;

Resistance levels: 0.90054 0.90186

Support levels: 0.89649 0.89513

Trading strategy: bearish below 0.89886, target 0.89649 0.89513
Alternative strategy: bullish above 0.89886, target 0.90054 0.90186

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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