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USDCHF: Bulls climb higher

2023-02-06
1227
Fundamental analysis:

USD/CHF remained volatile around 0.92547. Global central banks need to show financial markets that interest rates need to be kept at a higher level for a longer period of time, so that inflation can continue to fall back to the target level and avoid a rebound in price pressures.

US dollar Swiss franc USDCHF - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is rising rapidly, the market is bullish, the short-term bullish momentum continues to move upward, the MACD indicator is in the bearish area and moves up, and the RSI indicator is on the 50 balance line and is slowly rising;

Long-short turning point: 0.92461

Suppression: 0.92681, 0.92818
Support: 0.92320, 0.92178

Trading strategy: Bullish above 0.92461, target 0.92681, 0.92818
Alternative strategy: bearish below 0.92461, target 0.92320, 0.92178

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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