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USDCHF: short sellers fell sharply

2022-09-09
1066
Fundamental analysis:


The US dollar remained volatile around 0.96997 against the Swiss franc, and Switzerland's seasonally adjusted unemployment rate recorded 2.1% in August, the lowest since February 2002.



US Dollar Swiss Franc (USDCHF) - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the power of high-level short positions has fallen rapidly, the short-term decline has not stopped, the market short mood is shrouded, the MACD index is in the short area, and the RSI index is in the lower side of the 50 equilibrium line;


Multi empty turning point: 0.97052


Pressing position: 0.97281, 0.97510


Support position: 0.96783, 0.96571


Trading strategy: bearish below 0.97052, target 0.96783, 0.96571


Alternative strategy: bullish above 0.97052, target 0.97281, 0.97510

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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