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USDCHF: short sellers fell sharply

2022-09-12
1075
Fundamental analysis:


The USD / Swiss Franc fluctuated around 0.96065, and the Swiss central bank is likely to want to take action to prevent the depreciation of the franc. Moreover, because the European Central Bank decides to tighten policy faster to deal with serious supply shocks, the franc can also benefit from the intensification of credit worries.



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




Technical analysis:


According to the 4-hour chart, the short power is falling rapidly, and the short-term decline may continue. The MACD indicator is in the short area, and the RSI indicator is in the low position of the short area;


Long and short turning point: 0.96191


Pressing position: 0.96484, 0.96758


Support position: 0.95819, 0.95587


Trading strategy: bearish below 0.96191, target 0.95819, 0.95587


Alternative strategy: bullish above 0.96191, target 0.96484, 0.96758

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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