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USDCHF: wide range shock

Fundamental analysis:

The USD/CHF remained volatile around 0.89376. Switzerland’s April KOF economic leading indicator was 96.4, expected 98.1, and the previous value was 98.2.

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

Brief technical analysis:

Looking at the 4-hour chart: the bulls maintained their momentum and moved up and then retreated when they encountered resistance, but the bulls emerged to buy at low positions and pulled up again. The MACD index was weakly finishing on the upper side of the 0 axis, and the RSI index was hovering weakly near the 50 balance line;

Resistance levels: 0.89508 0.89665

Support levels: 0.89098 0.88923

Trading strategy: Bullish above 0.89275, target 0.89508 0.89665
Alternative strategy: bearish below 0.89275, target 0.89098 0.88923

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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