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USDCHF: high level narrow range finishing
2022-08-30
1188
Fundamental analysis:
The USD / Swiss Franc fluctuated around 0.96722. At the Jackson Hole central bank annual meeting, US Federal Reserve Chairman Powell denied that the US Federal Reserve would soon relax its policy, suggesting that the interest rate would continue to rise and would remain high for a period of time. This has weakened the attractiveness of the non interest bearing Swiss franc, and the strength of the US dollar has also put pressure on the Swiss franc.
USD Swiss Franc USDCHF - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the high level maintains a narrow range of consolidation in the short term, the market's short-term ladder upward trend begins to weaken, the MACD index maintains a consolidation and translation in the head area, and the RSI index hovers at the 50 equilibrium online side;
Long and short turning point: 0.96857
Pressing position: 0.97087, 0.97345
Support position: 0.96786, 0.96249
Trading strategy: bearish below 0.96857, target 0.96786, 0.96249
Alternative strategy: bullish above 0.96857, target 0.97087, 0.97345
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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