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USDCHF: strong recovery

Fundamental analysis:

USD/CHF remained oscillating around 0.89651, as U.S. inflation is improving, but not at a rapid pace, and the labor market remains strong, meaning policy makers may have more work to do to rein in price pressures.

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

Brief technical analysis:

Looking at the 4-hour chart: the high-level long-term momentum rebounded strongly in the short term, the market’s bullish sentiment emerged, and the trend continued to move upward in the short term. The MACD indicator is in the bullish area, and the RSI indicator is hovering weakly above the 50 balance line;

Resistance levels: 0.89747 0.89863

Support levels: 0.89498 0.89406

Trading strategy: Bullish above 0.89593, target 0.89747 0.89863
Alternative strategy: bearish below 0.89593, target 0.89498 0.89406

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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