USDCHF: Step up

USD/CHF remained volatile around 0.92275. Schlegel, deputy governor of the Swiss National Bank: predicted that the economy will weaken in the next few quarters. The Swiss National Bank predicts that economic growth will be at a low level of 0.5% in 2023, but it will not fall into recession. It is too early to lift the alarm on inflation. The possibility of further interest rate hikes in the future cannot be ruled out. Underlying inflationary pressures persist. Inflation is likely to remain high in the medium term.

US dollar Swiss franc USDCHF - 4-hour K-line chart shows:

Looking at the 4-hour chart: the bullish momentum maintains a narrow range of shocks and moves upward slowly, the market is still bullish, and the short-term bulls continue to climb. The MACD indicator is in a narrow range above the 0 axis, and the RSI indicator is hovering weakly on the side of the 50 balance line;

Long-short turning point: 0.92226

Suppression: 0.92461, 0.92655

Support: 0.92054, 0.91854

Trading strategy: Bullish above 0.92226, target 0.92461, 0.92655

Alternative strategy: bearish below 0.92226, target 0.92054, 0.91854