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USDCHF: Bears move down
2022-12-21
1099
Fundamental analysis:
USD/CHF remained volatile around 0.92621, lacking any apparent catalyst from the U.S., at least temporarily, as central banks around the world step up efforts to curb soaring inflation. And in the face of more hawkish comments from the Fed last week, higher interest rates increase the opportunity cost of holding the asset.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum maintains a narrow range of shocks and moves down, the market’s short-term sentiment emerges, the short-term decline may continue, the MACD indicator is below the 0 axis and moves down weakly, and the RSI indicator is below the 50 balance line for weak consolidation;
Long-short turning point: 0.92702
Suppression: 0.92879, 0.93034
Support: 0.92489, 0.92343
Trading strategy: bearish below 0.92702, target 0.92489, 0.92343
Alternative strategy: Bullish above 0.92702, target 0.92879, 0.93034
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