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USDCHF: high position down

2023-02-08
1118
Fundamental analysis:

USD/CHF remained volatile around 0.92218. The seasonally adjusted unemployment rate in Switzerland in January was 1.9%, expected to be 1.90%, and the previous value was 1.90%.

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



Brief technical analysis:

Looking at the 4-hour chart: the high-level short-term dynamics fluctuate downward, the short-term decline has not stopped, the market's short-term sentiment continues to emerge, the MACD indicator is in the long-term area and moves down, and the RSI indicator is in the long-term area and moves down to the 50 balance line.

Long-short turning point: 0.92292

Suppression: 0.92444, 0.92591
Support: 0.92074, 0.91940

Trading strategy: bearish below 0.92292, target 0.92074, 0.91940
Alternative strategy: Bullish above 0.92292, target 0.92444, 0.92591

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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