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Meirui: keep moving up
2022-07-12
1295
Fundamental analysis:
The dollar remained volatile around 0.98177 against the Swiss franc, and the dollar has been rising again due to the expectation that the Federal Reserve will continue to actively raise interest rates in response to soaring inflation. The market expects the Federal Reserve to raise interest rates by 75 basis points at its meeting on July 26-27. Federal funds rate futures traders priced their benchmark interest rate at 3.50% from the current 1.58% by March.
USD CHF USDCHF - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bulls' power remained volatile and continued to rise, and there was no sign of stopping in the short term. The MACD index was at a high level in the Bulls' region, maintaining consolidation and translation, and the RSI index hovered below the 80 equilibrium line in the high overbought area;
Long short turning point: 0.98177
Pressing position: 0.98587, 0.98858
Support position: 0.97961, 0.97726
Trading strategy: bullish above 0.98177, target 0.98587, 0.98858
Alternative strategy: bearish below 0.98177, target 0.97961, 0.97726
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