USD/CHF (a 4 hour chart)
After the US ambiguous economic data the US dollar corrected its achievements, but in general it remains positive.
Last week the initial jobless claims totaled 282k against the expected. 270k, but the unfinished home sales transactions totaled 3.4% in April against expected 0.9%.
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 buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Dead Cross”. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a neutral territory. The price is correcting.
We advise to short with the first target - 0.9280. When the pair consolidates above the first target, we can open deals to the level of 0.9160.