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USDCHF: Finishing the retracement
2023-03-30
936
Fundamental analysis:
The USD/CHF remained volatile around 0.91832, and the Swiss ZEW Investor Confidence Index in March fell 29 points to -41.3. The outlook for equity returns has been dampened by the recent turmoil in the banking sector. Longer-term inflation forecasts suggest the SNB's credibility remains high despite the possibility of a trade-off between prices and financial stability.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: short-term short-term momentum maintains a narrow range and slowly retreats. The overall short-term sentiment in the market is gradually emerging. In the short term, there are signs of continued weakness and downward movement. ;
Resistance levels: 0.92054 0.92232
Support levels: 0.91682 0.91539
Trading strategy: bearish below 0.91879, target 0.91682 0.91539
Alternative strategy: Bullish above 0.91879, target 0.92054 0.92232
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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