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USDCHF: The power of bulls is flourishing

2022-09-26
1212
Fundamental analysis:


The dollar rose 1.69% against the Swiss franc this week to 0.9804. The Swiss Central Bank raised the interest rate by 75 basis points as scheduled, and the policy interest rate rose from - 0.25% to 0.50%, ending the 8-year negative interest rate policy. However, the Swiss Central Bank lowered its economic growth forecast.

USDCHF Daily Chart



Technical analysis:


The daily chart shows that the short-term exchange rate has started to accelerate. MACD runs on the 0 axis and the volume can be increased slightly. RSI has risen slightly. It is expected that the short-term exchange rate will further rise.


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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