USD/CHF (a 4- hour chart)
The US dollar could not avoid the fall in the pair with the Swiss franc. As a result “bears” struck the previous minimum 0.8831 and tested the level 0.8798. Here there was a strong demand for the dollar, and the pair returned to the resistance at 0.9000 and even slightly rose above it. If the dollar stays above this level, the 91st figure will be tested next, the breakdown of which will confirm the foundation formation of a reversal figure. A fall below the level 0.8900 will mean that “bears” continue to monitor the situation in the pair.
The price is directed upwards. Chinkou Span is above the price. The price is above the cloud.
Northern movement is remained until Kijun-Sen is located below the price. Tenkan-sen is growing, Kijun sen is horizontal. The cloud is growing.
Bollinger bands show the beginning of the upward movement.
MACD histogram is located in the positive zone and below its signal line. The histogram is growing.
We believe that the pair is to continue its growth. The pair left the cloud, a brief consolidation is possible and we expect a growth then. The first goal 0.8990 is reached, after that a 0.9040 goes.
Should the growth be continued the pair is likely to reach 0.9090. Still we do not exclude the correction or even a bounce down to 0.8990.