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USDCHF: Wait for the end of rebound

Fundamental analysis:

The dollar index rebounded from an intraday low of 105.298 since mid August, rising 0.07% to 106.497. The US retail sales growth in October exceeded expectations, indicating that consumer spending may help support the economy in the fourth quarter and re strengthen the expectation of the Federal Reserve to continue to raise interest rates.

USDCHF Daily Chart

Technical analysis:

From the daily chart, we can see that the short-term exchange rate has continued to rebound and rise, the MACD has continued to decline at the lower turning point of Axis 0 and the volume can continue to shrink, and the RSI has rebounded slightly. It is expected that the short-term exchange rate will further rebound and rise, and we will look for short selling opportunities in the medium term.

Empty turning point: 0.9600

Pressing position: 0.9800 1.0000

Support position: 0.9400 0.9200

Trading strategy: bearish below 0.9600, target 0.9400, 0.9200

Alternative strategy: bullish above 0.9600, target 0.9800, 1.0000

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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