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USDCHF: wide range of shocks move up
2023-05-10
796
Fundamental analysis:
USD/CHF remained volatile around 0.89039. NOSW Exchange and other institutions invested 10 billion euros in liquidity to support UBS’s acquisition of Credit Suisse Bank. These funds will be used to cover Credit Suisse's debt gap and provide it with more cash flow to ensure its normal operations.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum maintains a wide range of shocks and moves upwards, and the market highs are short-term retracement, but the upward trend remains, the MACD index is hovering weakly above the 0 axis, and the RSI index is weakly finishing near the 50 balance line;
Resistance levels: 0.89153 0.89265
Support levels: 0.88862 0.88767
Trading strategy: Bullish above 0.88985, target 0.89153 0.89265
Alternative strategy: bearish below 0.88985, target 0.88862 0.88767
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