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USDCHF: wide range shock
2023-05-02
827
Fundamental analysis:
USD/CHF remained volatile around 0.89553. The National Bank of Saudi Arabia holds a 9.88% stake in Credit Suisse. After the merger between Credit Suisse and UBS, it will be converted into about 0.5% of UBS. National Bank of Saudi Arabia: Credit Suisse investment had a book value of 1.3 billion riyals as of March 31.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the trend of wide fluctuations is maintained in the short term, the bullish momentum shows signs of concussion upwards, the market bullish sentiment is gradually emerging, the MACD indicator is hovering above the 0 axis, and the RSI indicator is in a weak order above the 50 balance line;
Resistance levels: 0.89665 0.89789
Support levels: 0.89366 0.89233
Trading strategy: Bullish above 0.89485, target 0.89665 0.89789
Alternative strategy: bearish below 0.89485, target 0.89366 0.89233
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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