USD/CHF (a 4 hour chart)
The pair dollar/franc was consolidating after it has reached the three week high of 0.9650. The KOF Economic Barometer index for October (99.8 forecast of 98.2) that exceeded our expectations supported the franc. The potential pair decrease is restricted by the market positive attitude towards the dollar and the loose monetary policy by the Swiss National Bank.
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.
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 growing.
We advise to long with the first target - 0.9680. When the pair consolidates above the first target, we can open deals to the level of 0.9750.