02, December 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The franc rose against the dollar after the US data release, fixing the jobless claims growth and the orders reduction that resulted in the intensified speculations about the world's largest economic growth perspectives.

The price is finding the first support at 0.9620, the next one is at 0.9560. The price is finding the first resistance at 0.9680, the next one is at 0.9750.

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

Trading recommendations

We recommend going long with the first target - 0.9680. When the price consolidates under the first target it may go to the level of 0.9750.