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USDCHF: short-term consolidation
2023-02-09
1139
Fundamental analysis:
USD/CHF remained volatile around 0.92099. Powell said that if the economy remains strong, interest rates may need to be higher than expected, and the process of falling inflation is underway. Both the market and the central bank are now only concerned with the data, so the market is currently less sensitive to the speeches of Fed officials, but much more sensitive to the data.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the high-level short-term dynamics maintained a downward trend, and the short-term began to sort out within a narrow range. The market’s short-term sentiment still showed signs of continuing to move downward. The MACD index was in the bullish area and moved down to hover around the 0 axis, and the RSI index was at the 50 balance line. Weak finishing on the lower side;
Long-short turning point: 0.92194
Suppression: 0.92382, 0.92533
Support: 0.91940, 0.91801
Trading strategy: bearish below 0.92194, target 0.91940, 0.91801
Alternative strategy: Bullish above 0.92194, target 0.92382, 0.92533
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