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USDCHF: The upside is in good shape
2022-08-07
1433
Fundamental analysis:
On Friday (August 5), the US dollar index maintained a volatile and slightly upward trend in the week. The good non-agricultural report, the increase in risk aversion caused by the geopolitical situation and the hawkish remarks of the Fed officials supported the dollar, but the worries of a US economic recession gave Dollar pressure.
USD/CHF USDCHF daily chart
A brief technical analysis:
From the daily chart: the short-term exchange rate continues to rise, the MACD runs below the 0-axis but the volume 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 further rise.
Long and short turning point: 0.9600
Suppression bit: 0.9800 1.0000
Support level: 0.9400 0.9200
Trading strategy:bullish above 0.9600, target 0.9800, 1.0000
Alternative strategy: bearish below 0.9600, target 0.9400, 0.9200
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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