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USDCHF: Shock and pull up
2023-02-10
1050
Fundamental analysis:
USD/CHF remained volatile around 0.92243. Many Fed officials said that further interest rate hikes are needed to curb inflation, but no one suggested that the Fed will resume a more active monetary policy stance. Traders awaited new economic data for clues on the Fed's future path of rate hikes.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: After a short-term narrow range, it began to pull up, and the market’s bullish sentiment began to emerge. In the short term, there are signs of continued upward movement. The MACD index is hovering weakly near the 0 axis, and the RSI index is weakly finishing above the 50 balance line;
Long-short turning point: 0.92194
Suppression: 0.92382, 0.92533
Support: 0.92060, 0.91926
Trading strategy: Bullish above 0.92194, target 0.92382, 0.92533
Alternative strategy: bearish below 0.92194, target 0.92060, 0.91926
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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