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USDCHF: short shock down

2022-08-09
1207
Fundamental analysis:


The USD / Swiss Franc fluctuated around 0.95521, and the unadjusted unemployment rate in Switzerland was also stable at 2.0%, reaffirming the stable labor market situation in Switzerland after the recovery of the epidemic. The number of unemployed registered in Switzerland in July decreased from 92511 in June to 91474 in July.



USD Swiss Franc USDCHF - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the power of high short positions maintains a fluctuating downward trend, and there is a continued downward trend in the short term. The MACD index hovers below the 0 axis, and the RSI index is in a narrow range under the 50 equilibrium line;


Long and short turning point: 0.95583


Pressing position: 0.95809, 0.96055


Support position: 0.95281, 0.95045


Trading strategy: bearish below 0.95583, target 0.95281, 0.95045


Alternative strategy: bullish above 0.95583, target 0.95809, 0.96055

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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