01, May 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Swiss franc has rapidly grown against the dollar after the US GDP weak report, according to the preliminary assessment, its growth amounted to + 0.2% in the first quarter against + 1.0% and 2.2% in the previous period.

The price is finding the first support at 0.9370, the next one is at 0.9280. The price is finding the first resistance at 0.9540, the next one is at 0.9750.

There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The downward movement will be until the price is under the Cloud.

The MACD indicator is in a negative territory. The price is consolidating.

Trading recommendations

We advise to long with the first target - 0.9540. When the pair consolidates above the first target, we can open deals to the level of 0.9750.