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USDCHF: wide range shock

Fundamental analysis:

USD/CHF remained volatile around 0.88946. Investors were worried about the US economy and increased their holdings of safe-haven assets. Concerns over renewed U.S. banking stress, slowing economic growth and heightened geopolitical tensions all bode well for Swiss franc investments.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term maintenance area fluctuates widely, the market bulls begin to emerge, and there are signs of upward shocks in the short term, the MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is weakly hovering near the 50 balance line;

Resistance levels: 0.89100 0.89235

Support levels: 0.88767 0.88641

Trading strategy: Bullish above 0.88902, target 0.89100 0.89235
Alternative strategy: bearish below 0.88902, target 0.88767 0.88641

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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