04, April 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

The frank rose sharply following the euro. Previously, the focus was on the Federal Reserve Janet Yellen's speech. She said that the central bank was likely to continue the QE cutting, while, as before, the regulator monitors incoming macroeconomic data for the nature impact on the economy.

The first support is 0.8890, the next one is 0.8850. The first resistance is 0.8920.

The price is above the cloud and under Chinkou-Span, that’s a confirmed buy signal. Both trend lines are moving horizontally. The cloud is directed upwards. The northern movement remains until Kijun-Sen is located below the price.

MACD histogram is still located in the positive area.

Trading recommendations

The pair is overbought. We expect a bounce down to 0.8890 and 0.8850.