04, September 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

The Swiss Franc slightly strengthened against the dollar. The dollar held near 14-month high to the major currencies basket due to the good United States economic statistics and the US bond yields growth.

The price is finding the first support at 0.9170, the next one is at 0.9130. The price is finding the first resistance at 0.9200, the next one is at 0.9240.

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 consolidating.

Trading recommendations

We advise to long with the first target - 0.9200. When the pair consolidates above the first target, we can open deals to the level of 0.9240.