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USDCHF: Strong rise of bulls

2022-10-07
1060
Fundamental analysis:


The dollar remained volatile against the Swiss franc at 0.99002. Officials from the Swiss Central Bank: The Swiss Central Bank is paying attention to the situation of Credit Suisse Governor of the Swiss Central Bank Michael Schiller said that after the recent 75 basis points interest rate hike, the Swiss Central Bank was prepared to further raise interest rates to cope with inflation.



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




Technical analysis:


The 4-hour chart shows that the bulls' driving force is strong and rising, and short-term bulls' emotions are emerging rapidly. The early high is just around the corner, the MACD indicator is hovering on the top of the 0 axis, and the RSI indicator is in a narrow range on the 50 balanced online side;


Empty turning point: 0.98927


Pressing: 0.99257, 0.99490


Support: 0.99643, 0.99416


Trading strategy: 0.98927 upside bullish, target 0.99257, 0.99490


Alternative strategy: bearish at 0.98927, with targets of 0.99643 and 0.99416

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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