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USDCHF: short decline continues
2022-09-13
1082
Fundamental analysis:
The USD / CHF remained around 0.95309, Europe was still facing a weak economic outlook, and sky high energy prices were squeezing consumers and enterprises. EU energy ministers discussed measures to protect citizens from being affected, and disagreed on whether to set a price cap on Russian natural gas. Currencies regarded as riskier also benefited from the improvement of market sentiment over the weekend.
US Dollar Swiss Franc (USDCHF) - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the market is shrouded in short sentiment, and the short-term decline may continue. MACD indicator is in the weak consolidation of the low position in the short area, and RSI indicator is in the narrow range of the low position in the short area;
Long short turning point: 0.95426
Pressing position: 0.95672, 0.95924
Support position: 0.95072, 0.94860
Trading strategy: bearish below 0.95426, target 0.95072, 0.94860
Alternative strategy: bullish above 0.95426, targeting 0.95672 and 0.95924
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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