03, October 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Swiss franc strengthened against the dollar. There are rumors about the Swiss National Bank intervention (SNB).

In September 2011, the SNB set a lower limit for the EUR/CHF at the level of 1.2000 with a view to prevent excessive franc appreciation amid the strengthening economic crisis in the Eurozone.

The price is finding the first support at 0.9500, the next one is at 0.9430. The price is finding the first resistance at 0.9560, the next one is at 0.9620.

There is a confirmed and a strong 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 positive territory. The price is correcting.

Trading recommendations

We advise to long with the target - 0.9560. When the pair consolidates above the first target, we can open deals to the level of 0.9620.