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USDCHF: Shock and rise

2023-02-16
1050
Fundamental analysis:

USD/CHF remained volatile around 0.92369, and the market expects the Fed to reach the peak rate of 5.263% in the current rate hike cycle in July. At the next two Federal Open Market Committee (FOMC) meetings in March and May, the Fed will raise rates by at least 25 basis points each.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum remains volatile and rising, the short-term bullish sentiment continues, the high level is short-term blocked, the upward trend of the market remains, the MACD indicator is hovering above the 0 axis, and the RSI indicator is on the 0 axis for consolidation;

Long-short turning point: 0.92280

Suppression: 0.92512, 0.92628
Support: 0.92147, 0.92026

Trading strategy: Bullish above 0.92280, target 0.92512, 0.92628
Alternative strategy: bearish below 0.92280, target 0.92147, 0.92026

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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