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USDCHF: The rebound is firmly short
2022-07-03
1295
Fundamental analysis:
The dollar index strengthened again after a week, with a cumulative gain of nearly 1.1% to 105.266. Despite concerns about a slowdown in the U.S. economy driven by the Fed’s aggressive tightening policy, the U.S. dollar will be more of a safe-haven currency in the face of the risk of a global recession.
USD/CHF daily chart
A brief technical analysis:
Daily chart: A slight rebound in the short-term to test the middle track, but it is difficult to change the weakness. The Bollinger Bands indicator opens but continues to move without direction. The MACD runs below the 0 axis but the volume can shrink slightly. The RSI rises slightly. It is expected that the short-term exchange rate will most likely be Further downside after the rebound.
Long and short turning point: 0.9800
Suppression bit: 1.0000 1.0200
Support: 0.9600 0.9400
Trading strategy: bullish above 0.9800, target 1.0000, 1.0200
Alternative strategy: bearish below 0.9800, target 0.9600, 0.9400
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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