06, February 2015

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The Swiss franc temporarily strengthened against the dollar after the relatively weak ADP report publication. The ADP report traditionally helps to correct expectations for Friday's employment report.

The price is finding the first support at 0.9150, the next one is at 0.8940. The price is finding the first resistance at 0.9340, the next one is at 0.9540.

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 neutral territory. The price is consolidating.

Trading recommendations

We advise to long with the first target - 0.9340. When the pair consolidates above the first target, we can open deals to the level of 0.9540.