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USDCHF: low move down
2022-12-20
1099
Fundamental analysis:
USD/CHF remained volatile around 0.92915, benefiting from more hawkish comments from Fed officials, who are expected to raise interest rates by at least 75 basis points in total until the end of 2023. This, combined with the prospect of further monetary policy tightening by other major central banks, limited the Swiss franc's gains.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low-level narrow-range shocks are slowly retracing, the market's bearish sentiment has signs of waiting for opportunities to enter the market, the MACD indicator is hovering weakly near the 0 axis, and the RSI indicator is in a narrow range near the 50 balance line;
Long-short turning point: 0.92980
Suppression: 0.93182, 0.93378
Support: 0.92710, 0.92538
Trading strategy: bearish below 0.92980, target 0.92710, 0.92538
Alternative strategy: Bullish above 0.92980, target 0.93182, 0.93378
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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