05, December 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The Swiss franc continued to fall against the dollar amid the general demand for the US dollar. The US statistics showed that the US private sector employment from the ADP was 208K vs. 221K. Now all attention will be paid to the November government employment report which will be released traditionally on Friday.

The price is finding the first support at 0.9680, the next one is at 0.9620. The price is finding the first resistance at 1.9750, the next one is at 0.9800.

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 increasing.

Trading recommendations

We advise to long with the first target - 0.9750. When the pair consolidates above the first target, we can open deals to the level of 0.9800.