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USDCHF: bearish sentiment continues to decline
2022-08-11
1318
Fundamental analysis:
The USD / Swiss Franc fluctuated around 0.94225, and US inflation fell unexpectedly. At the same time, the Federal Reserve's large-scale interest rate increase has indeed played a role in reducing inflation. This data means that the expectation of the Federal Reserve to continue to raise interest rates by 75 basis points at the September meeting has dropped significantly.
USD Swiss Franc USDCHF - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short-term momentum maintained a good downward trend, the short-term decline did not stop, the MACD index maintained a downward trend in the short-term region, and the RSI index remained weak at the lower side of the 50 equilibrium line;
Long and short turning point: 0.94367
Pressing position: 0.94586, 0.94842
Support position: 0.93986, 0.93803
Trading strategy: bearish below 0.94367, target 0.93986, 0.93803
Alternative strategy: bullish above 0.94367, target 0.94586, 0.94842
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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