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USDCHF: Short-term decline, expected to rebound slightly
2022-08-03
1394
Fundamental analysis:
The U.S. dollar index traded around 106.34. The greenback rose nearly 1 percent on Tuesday, buoyed by Fed officials' firm remarks on raising interest rates, after falling to a near one-month low earlier in the session.
USD/CHF USDCHF daily chart
A brief technical analysis:
From the daily chart: the short-term stopped falling and then quickly rose. MACD runs below the 0-axis but continues to shrink slightly below the 0-axis of volume and energy, and the RSI rebounds slightly. It is expected that the short-term exchange rate will likely rebound and rise.
Long and short turning point: 0.9600
Suppression bit: 0.9800 1.0000
Support level: 0.9400 0.9200
Trading strategy: bearish below 0.9600, target 0.9400, 0.9200
Alternative strategy: bullish above 0.9600, target 0.9800, 1.0000
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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