02, March 2015

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The franc has rapidly grown during the US session and reached the highest level since the day that the Swiss National Bank released the franc against the euro. The mixed statistics publication supported the dollar and the pair increased at the end of the last week.

The price is finding the first support at 0.9340, the next one is at 0.9150. The price is finding the first resistance at 0.9540, the next one is at 0.9750.

There is a confirmed and a weak 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. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a neutral territory. The price is growing.

Trading recommendations

We advise to long with the first target - 0.9750. When the pair consolidates above the first target, we can open deals to the level of 0.9950.