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USDCHF: low move down
2023-04-14
904
Fundamental analysis:
USD/CHF remained volatile around 0.89049 as overall benign U.S. inflation data for March, released overnight, prompted bets that the Federal Reserve could start cutting interest rates in the second half of the year. The Fed has more work to do to bring inflation down to its 2% target, as the latest data on price pressures was not weak enough.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The short-term momentum continues to fall at a low level, and the short-term decline has not stopped. The market is shrouded in bearish sentiment. In the short term, you will continue to move downward.
Resistance levels: 0.89275 0.89508
Support levels: 0.88754 0.88555
Trading strategy: bearish below 0.89049, target 0.88754 0.88555
Alternative strategy: Bullish above 0.89049, target 0.89275 0.89508
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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