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USDCHF: strong climb

Fundamental analysis:

USD/CHF remained volatile around 0.94180. Switzerland’s February seasonally adjusted unemployment rate was 1.9%, expected 1.90%, and the previous value was 1.90%.

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, and the short-term bullish sentiment is shrouded, and it is about to break through the previous high node. The MACD indicator is in the bearish area and moves up to the 0 axis, and the RSI indicator is on the side of the 50 balance line.

Resistance levels: 0.94300 0.94434

Support levels: 0.93968 0.93817

Trading strategy: Bullish above 0.94102, target 0.94300 0.94434
Alternative strategy: bearish below 0.94102, target 0.93968 0.93817

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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