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USDCHF: V-shaped recovery
2023-08-11
728
Fundamental analysis:
USD/CHF remained oscillating around 0.87676. The overall inflation rate in the United States rose slightly in July compared with June, which strengthened the reason for the Fed to keep interest rates stable at its next meeting in September.
US dollar Swiss franc USDCHF - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the short-term maintains range shocks, the V-shaped reversal moves upward, and the short-term bulls continue to move upward. The MACD indicator is hovering weakly above the 0-axis, and the RSI indicator is weakly finishing above the 50 balance line;
Resistance levels: 0.87845 0.87998
Support levels: 0.87472 0.87334
Trading strategy: bullish above 0.87625, target 0.87845 0.87998
Alternative strategy: bearish below 0.87625, target 0.87472 0.87334
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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