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USDCHF: shock retracement
2023-01-26
1037
Fundamental analysis:
The USD/CHF remained volatile around 0.91898. The ZEW investor confidence index in Switzerland recorded -40 in January, a new high since March 2022. Swiss investor confidence improved further in January, with most financial analysts remaining "pessimistic about economic growth" but "views on equities are becoming more optimistic".
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 and retracing, the short-term decline may continue, the market bearish sentiment is slowly emerging, the MACD indicator is weakly hovering around the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;
Long-short turning point: 0.91898
Suppression: 0.92092, 0.92269
Support: 0.91612, 0.91436
Trading strategy: bearish below 0.91898, target 0.91612, 0.91436
Alternative strategy: Bullish above 0.91898, target 0.92092, 0.92269
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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