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USDCHF: The bulls break up quickly
2022-09-29
1102
Fundamental analysis:
The dollar index ended Wednesday at 112.660, a 20-year high of 114.79 earlier. Although the US dollar rose widely at the beginning, it fell back sharply as the New York trading session advanced.
USDCHF Daily Chart
Technical analysis:
From the daily chart, we can see that the short-term exchange rate dips at a high level. MACD runs on the 0 axis and the volume can continue to shrink slightly. RSI weakens slightly. It is expected that the short-term exchange rate will rise further after the reduction and consolidation.
Empty turning point: 0.9600
Pressing position: 0.9800 1.0000
Support position: 0.9400 0.9200
Trading strategy: bullish above 0.9600, target 0.9800, 1.0000
Alternative strategy: bearish below 0.9600, target 0.9400, 0.9200
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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