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USDCHF: The bull moves up slowly

Fundamental analysis:

The USD/Swiss franc remained volatile around 0.96369, and investors raised their expectations on how much the Federal Reserve might eventually push the policy interest rate up at the beginning of 2023. But there is growing concern that the economy may fall into recession, prompting policymakers to cut interest rates next year.

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

Technical analysis:

The 4-hour chart shows that the bulls' momentum has kept moving up slowly, the bulls' momentum has begun to sort out, the short-term bullish sentiment remains unchanged, the market bears are waiting for opportunities to enter, but the bulls' pull trend is good, the MACD index hovers under the axis 0, and the RSI index is in the weak consolidation near the 50 equilibrium line;

Empty turning point: 0.96190

Pressing position: 0.96689, 0.96983

Support position: 0.95881, 0.95631

Trading strategy: bearish at 0.96190, target 0.95881, 0.95631

Alternative strategy: bullish above 0.96190, target 0.96689, 0.96983

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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