USD/CHF (a 4- hour chart)
The frank rose following the euro. The growth started after Janet Yellen’s speech in Senate where she said that the Central Bank is likely to continue the cut QE. She added that the regulator keeps monitoring incoming macroeconomic and its impact on the economy.
From a technical point of view, the pair USD/CHF fell to lows at 0.8790, while the immediate support is at the area 0.8750. The resistance is at 0.9060.
The pair is below the Cloud that cancels the northern movement. Tenkan-sen is crossing Kijun-sen downwards. The cloud is decreasing. The southern movement remains until Kijun-Sen is located above the price.
Bollinger bands still show a downward movement.
MACD histogram is in a negative zone. The histogram is descending.
We recommend to go short with the target 0.8742. After fixing below the first target, the price might go to 0.8684.