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USDCHF: wide range shock

2023-01-05
594
Fundamental analysis:
The USD/CHF remained volatile around 0.92984. Switzerland’s CPI annual rate in December was 2.8%, expected to be 2.9%, and the previous value to be 3.00%. This increase was mainly due to higher prices for petroleum products, petrol, cars and rental properties. In contrast, combined quotations for fixed and mobile communications and pharmaceuticals declined.

US dollar Swiss franc USDCHF - 4-hour K-line chart shows:



Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum fluctuates rapidly and falls, and after being supported in the short term, it oscillates. The market bulls have signs of waiting for an opportunity to enter the market, but the high-level downward trend remains. The MACD indicator is in the bullish area, and the RSI indicator is hovering around the 50 balance line;
Long-short turning point: 0.93054
Suppression: 0.93193, 0.93341
Support: 0.92851, 0.92715
Trading strategy: bearish below 0.93054, target 0.92851, 0.92715
Alternative strategy: Bullish above 0.93054, target 0.93193, 0.93341

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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