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USDCHF: bargain hunting continues to buy
2022-08-24
1124
Fundamental analysis:
The US dollar index traded near 108.53; During the session, it touched the highest level since July to 109.27, but private sector activity in August was weaker than expected, prompting people to bet that the Federal Reserve may not be so aggressive in the interest rate hike cycle
USDCHF daily chart
Technical analysis:
According to the daily chart, the short-term exchange rate has slightly retreated. The MACD operates under the 0 axis but the volume can continue to shrink under the 0 axis. The RSI continues to rise. It is expected that the short-term exchange rate will further rise after the fall.
Long and 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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