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USDCHF: weak move down
2023-03-28
824
Fundamental analysis:
The USD/CHF remained volatile around 0.91547, and the European Central Bank has raised interest rates more than the Riksbank. Therefore, in the context of the recent pressure on the banking industry, the European Central Bank has more room to cut interest rates, which is a potential disadvantage for the euro. The Swiss National Bank claims to prevent the weakening of the Swiss franc, which of course is also good for the Swiss franc.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics maintain a narrow range and slow down, the market's short-term sentiment emerges, and there are signs of continued downward movement in the short term. The MACD indicator is hovering below the 0 axis, and the RSI indicator is below the 50 balance line.
Resistance levels: 0.91836 0.92053
Support levels: 0.91356 0.91159
Trading strategy: bearish below 0.91632, target 0.91356 0.91159
Alternative strategy: Bullish above 0.91632, target 0.91836 0.92053
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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