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USDCHF: Shock recovery
2022-12-16
1050
Fundamental analysis:
USD/CHF remained volatile around 0.92870, the Swiss National Bank raised interest rates by 50 basis points to 1.0%, and may raise interest rates by another 50 basis points to a peak of 1.5% in March. In order to curb inflation, the Swiss National Bank may intervene in the foreign exchange market to prevent the depreciation of the Swiss franc.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low-level short-term shocks are slowly picking up, the market is bullish, and the short-term bulls are waiting for an opportunity to enter the market. The MACD indicator is in the short-term area and moves up, and the RSI indicator is hovering below the 50 balance line;
Long-short turning point: 0.92794
Suppression: 0.93096, 0.93299
Support: 0.92572, 0.92341
Trading strategy: Bullish above 0.92794, target 0.93096, 0.93299
Alternative strategy: bearish below 0.92794, target 0.92572, 0.92341
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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