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USDCHF: There is a need for adjustment
2022-10-26
1107
Fundamental analysis:
On Wednesday (October 26), Beijing time, the US dollar index traded near 110.89 in the early morning session of Asian market; The dollar fell to a nearly three week low on Tuesday as U.S. economic data weakened and market expectations for the pace of future U.S. interest rate hikes cooled
USDCHF Daily Chart
Technical analysis:
From the daily chart, we can see that the short-term exchange rate will be adjusted in a narrow range after rising. MACD runs on the 0 axis but its volume can shrink slightly. RSI will weaken slightly. It is expected that the short-term exchange rate will be further measured and adjusted, and there is potential for further improvement in the medium term.
Empty turning point: 0.9800
Pressing position: 1.0000 1.0200
Support position: 0.9600 0.9400
Trading strategy: bullish above 0.9800, target 1.0000, 1.0200
Alternative strategy: bearish below 0.9800, target 0.9600, 0.9400
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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