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USDCHF: Shock down

2023-06-14
761
Fundamental analysis:

USD/CHF remained volatile around 0.90510. UBS signed a loss protection agreement with the Swiss government, which will take effect after the completion of the acquisition of Credit Suisse. UBS covered the first CHF 5 billion of any realized losses, and the Swiss government would provide guarantees of up to CHF 9 billion for designated Credit Suisse non-core asset portfolios.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum is oscillating downward, and the short-term decline may continue. The overall market remains volatile and continues to move downward. The MACD indicator is hovering weakly near the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;

Resistance levels: 0.90692 0.90815

Support levels: 0.90394 0.90284

Trading strategy: bearish below 0.90573, target 0.90394 0.90284
Alternative strategy: Bullish above 0.90573, target 0.90692 0.90815

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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