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USDCHF: low pull up

2023-04-16
852
Fundamental analysis:

USD/CHF remained volatile around 0.89382, and the U.S. short-term interest rate futures market reflected that the market believes that the possibility of a rate hike in May is about four times that of no rate hike, slightly higher than the possibility before the report was released. The current target range is 4.75%-5.00%.

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



Brief technical analysis:

Looking at the 4-hour chart: the low-level bulls have a strong momentum, the market's bullish sentiment is emerging, and the short-term bulls are constantly moving upwards. The MACD indicator is in the short-term area and moves up, and the RSI indicator is hovering below the 50 balance line;

Resistance levels: 0.89615 0.89835

Support levels: 0.88989 0.88754

Trading strategy: Bullish above 0.89250, target 0.89615 0.89835
Alternative strategy: bearish below 0.89250, target 0.88989 0.88754

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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