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
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