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USDCHF: wide range shock
2023-03-02
903
Fundamental analysis:
USD/CHF remained volatile around 0.93980, and the US dollar index gave up its gains in February. But persistently high inflationary pressures will force the Federal Reserve to raise interest rates further, limiting the room for the Swiss franc to rebound.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: high and wide fluctuations, the market as a whole is in a range consolidation, short-term or entangled with high levels, MACD is in the long zone to maintain consolidation, and RSI index is hovering above the 50 balance line;
Long-short turning point: 0.93898
Suppression: 0.94180, 0.94339
Support: 0.93735, 0.93546
Trading strategy: Bullish above 0.93898, target 0.94180, 0.94339
Alternative strategy: bearish below 0.93898, target 0.93735, 0.93546
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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