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USDCHF: Step Down

Fundamental analysis:

The US dollar/Swiss franc remained volatile at around 0.98553, and the inflation rate was far higher than the target. The Federal Reserve is tightening its policy on a large scale; Moreover, as far as the domestic and international geopolitical situation of the United States is concerned, we live in an extremely uncertain world, so we still believe that the probability of the American economy entering recession in the next 12 months is 35%.

USD/CHF USDCHF - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that after the sharp fall of short selling power, the low level ladder declines, and the short-term decline may continue. The market short position is good. The MACD indicator is in the low position of short positions, and the RSI indicator is in the low position of short positions;

Empty turning point: 0.98678

Pressing: 0.98897, 0.99099

Support: 0.98358, 0.98160

Trading strategy: bearish at 0.98678, target 0.98358, 0.98160

Alternative strategy: bullish above 0.98678, target 0.98897, 0.99099

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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