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USDCHF: wide range shock
2023-07-30
757
Fundamental analysis:
USD/CHF remained volatile around 0.86911, and the Federal Reserve raised the US benchmark interest rate by 25 basis points. Investors now expect the range of 5.25 to 5.5 to remain in place until the end of the year. But even before the rate announcement, hedge funds were encouraged by the prospect of increasing their exposure to gold.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is strongly fluctuating and pulled up, and the bullish sentiment in the market has weakened, but it is maintaining a wide range of consolidation. The MACD indicator is weakly finishing above the 0 axis, and the RSI indicator is hovering weakly above the 50 balance line;
Resistance levels: 0.87166 0.87394
Support levels: 0.86531 0.86282
Trading strategy: Bullish above 0.86779, target 0.87166 0.87394
Alternative strategy: bearish below 0.86779, target 0.86531 0.86282
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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