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Usdchf:0.9600 effective support

2022-07-27
1230
Fundamental analysis:


At the beginning of Asian trading, the US dollar was traded near 107.20. The International Monetary Fund lowered its global economic forecast, and the fear of economic recession increased. The US dollar reversed its decline on Tuesday.


USD / Swiss Franc USDCHF daily chart



Technical analysis:


Daily chart: the short-term exchange rate continues to fall and test the long and short turning area. MACD runs on the 0 axis, but the volume can continue to shrink slightly. RSI continues to fall. It is expected that the short-term exchange rate probability will further rise after the fall is sorted out. Pay attention to whether the support of the long and short turning area is effective.


Long short turning point: 0.9600


Pressing bit: 0.9800 1.0000


Support position: 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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