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USDCHF: Shock and rise

2023-02-22
1136
Fundamental analysis:

USD/CHF remained volatile around 0.92757, the deputy governor of the Swiss National Bank: The Swiss National Bank is still willing to act aggressively in the foreign exchange market to achieve the inflation target; the Swiss National Bank must respond, and it is a "forceful response" to deal with Switzerland's inflation problem. Swiss inflation hit a high of 3.5 percent last year.

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



Brief technical analysis:

Looking at the 4-hour chart: the bulls are driven up strongly, short-term bullish sentiment emerges, the market bulls continue to climb, the MACD indicator is hovering above the 0 axis, and the RSI indicator is on the side of the 50 balance line.

Long-short turning point: 0.92696

Suppression: 0.92881, 0.93003
Support: 0.92562, 0.92424

Trading strategy: Bullish above 0.92696, target 0.92562, 0.92424
Alternative strategy: bearish below 0.92696, target 0.92881, 0.93003

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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