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USDCHF: high move up

2023-02-07
1158
Fundamental analysis:

USD/CHF traded around 0.92839, with the Swiss franc's reaction to shocking jobs data suggesting the Fed will be forced to maintain its aggressive monetary policy for longer than expected if the labor market remains strong.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum remains high and fluctuates upwards, and the short-term upward trend may continue. The bulls in the market continue to climb, the MACD indicator is in the bullish zone and continues to move upward, and the RSI indicator is in the bullish zone.

Long-short turning point: 0.92788

Suppression: 0.92998, 0.93120
Support: 0.92649, 0.92520

Trading strategy: Bullish above 0.92788, target 0.92998, 0.93120
Alternative strategy: bearish below 0.92788, target 0.92649, 0.92520

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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