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USDCHF: bulls pull up strongly and retreat when encountering obstacles
2022-08-04
1277
Fundamental analysis:
The dollar remained volatile around 0.96015 against the Swiss franc. The annual rate of consumer prices in Switzerland stabilized at 3.4% in July, slightly lower than economists' expectations, flat month on month, and inflation hit a 29 year high last month.
USD CHF USDCHF - 4-hour K-line chart shows:
Technical analysis:
Looking at the 4-hour chart: the low-level Bulls' momentum surged strongly, and the short-term highs retreated when blocked. The market as a whole is still in a weak trend. The MACD index hovers on the upper side of the 0 axis, and the RSI index is in a narrow range of 50 equilibrium on the online side;
Multi empty turning point: 0.96136
Pressing position: 0.96386, 0.96652
Support position: 0.95795, 0.95582
Trading strategy: bearish below 0.96136, target 0.95795, 0.95582
Alternative strategy: bullish above 0.96136, target 0.96386, 0.96652
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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