USD/CHF (a 4 hour chart)
The dollar rose after the Institute for Supply Management said that its purchasing managers index in the services sector grew last month to three-year high 58.7 from 56.0 in June. Analysts had expected the index to reach 56.3 in July.
The price is finding the first support at 0.9060, the next one is at 0.9035. The price is finding the first resistance at 0.9090, the next one is at 0.9130.
There is a confirmed and a weak buy signal. The price is on the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement and form a “Golden Cross”. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is growing.
We advise to long with the first target - 0.9130. When the pair consolidates above the first target, we can open deals to the level of 0.9170.