USD/CHF (a 4 hour chart)
The Swiss franc rose up substantially after the U.S. dollar came under pressure. This happened amid disappointing report on the GDP output in the first quarter.
The main event was the FOMC meeting outcome publication. As it was expected, the asset purchase program amount was reduced by $10 billion a month to $45 billion. Wherein it was stated, that rates will remain low for an extended period of time after the program completion.
The first support is 0.8740, and the next one is 0.8700. The first resistance is 0.8800, the next is one 0.8850.
The price is under the Cloud and under Chinkou-Span, that’s a weak and confirmed sell signal.
The downward movement remains until Kijun-Sen is above the price.
The MACD histogram is at zero area.
The franc has the main long positions target - 0.8850. When the price is fixed above the first target, the main goal will become the level 0.8885.