03, April 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Swiss franc rose against the dollar after the second quarter start was marked by the number of weaker than expected US economic data publication.

The price is finding the first support at 0.9540, the next one is at 0.9370. The price is finding the first resistance at 0.9750, the next one is at 0.9950.

There is a non-confirmed and a weak sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement and form a “Dead Cross”. The downward movement will be until the price is under the Cloud.

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

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.