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USDCHF: wide range shock
2023-04-30
782
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
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