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USDCHF: Bulls continue to attack

2022-08-23
1152
Fundamental analysis:

In early Asian trading on August 23, the US dollar index rose slightly and is currently trading around 109.00. The U.S. dollar index has found support in recent sessions as several Fed officials reiterated their aggressive monetary tightening stance.

USD/CHF USDCHF daily chart


A brief technical analysis:

From the daily chart: the short-term exchange rate continues to rise strongly, the MACD runs below the 0-axis but the volume and energy continue to shrink below the 0-axis, and the RSI continues to rise. It is expected that the short-term exchange rate will likely rise further.

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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