02, April 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

The Franc has been falling in the past two weeks. After the consumer price inflation release in Germany the franc recovered.
The Franc weakened versus the dollar after the release of a mixed report on the U.S. GDP growth yesterday.

The first support is 0.8800, the next one is 0.8740. The first resistance is 0.8850, the next one is 0.8890.

The price is above the cloud and under Chinkou-Span, that’s a confirmed buy signal. Both trend lines are moving horizontally. The cloud is directed upwards. The northern movement remains until Kijun-Sen is located below the price.

MACD histogram is still located in the positive area, but slightly below its signal line it continues to gradually decline and thus sends a signal to buy the USD/CHF.

Trading recommendations

The Franc is directed to 0.8800. When the price consolidates at the first target, the main goal for sales will become the level 0.8740.