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USDCHF: strong climb

2023-01-06
589
Fundamental analysis:
USD/CHF remained volatile around 0.93624, with the U.S. dollar soaring in 2022 as the Fed sharply raises interest rates. Fed officials predicted in December that the federal funds rate, currently in a range of 4.25% to 4.50%, would rise to just above 5% in 2023 and likely remain there for some time.

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



Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is rising strongly, the short-term bullish sentiment is shrouded, the bullish momentum in the market continues to rise, the MACD indicator is in the bullish zone and moves up, and the RSI indicator is in the bullish zone for consolidation;
Long-short turning point: 0.93547
Suppression: 0.93775, 0.93915
Support: 0.93404, 0.93268
Trading strategy: Bullish above 0.93547, target 0.93775, 0.93915
Alternative strategy: bearish below 0.93547, target 0.93404, 0.93268

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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