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USDCHF: Step up

2023-04-18
946
Fundamental analysis:

USD/CHF remained volatile around 0.89819, as investors continued to redeem billions of dollars in funds in the weeks since Credit Suisse Group announced its merger with UBS, with outflows from Credit Suisse's investment funds accelerating .

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



Brief technical analysis:

Looking at the 4-hour chart: The low-level bulls maintain a ladder-like shock and rise, and the short-term bullish sentiment is shrouded. The bulls in the market continue to rise, the MACD indicator is in the short-term area and moves up, and the RSI indicator is hovering weakly above the 50 balance line;

Resistance levels: 0.90019 0.90219

Support levels: 0.89483 0.89289

Trading strategy: Bullish above 0.89684, target 0.90019 0.90219
Alternative strategy: bearish below 0.89684, target 0.89483 0.89289

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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