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USDCHF: The downside is relatively smooth
2022-08-01
1381
Fundamental analysis:
The Fed has made it clear that it is prepared to sacrifice economic growth as it wants to bring inflation down to target, but now the U.S. is in a technical recession that appears to be heading for what might be called a "true" recession, where unemployment rises, consumption rises Spending fell and the Fed is expected to raise rates by 50 basis points each in September and November.
USD/CHF USDCHF daily chart
A brief technical analysis:
From the daily chart: the short-term exchange rate continues to decline, the MACD runs near the 0-axis but the volume continues to increase slightly below the 0-axis of volume and energy, and the RSI continues to fall. It is expected that the short-term exchange rate will likely fall further.
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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