USD/CHF (a 4 hour chart)
The August consumer price index fell by 1.4% in annual terms after a decline by 1.3 % the previous month. Last change was in line with economists' expectations. On the month basis consumer prices fell by 0.2 % in August after the 0.6 % decline in July. The month decline was also expected.
The pair dollar/franc continues to grow. A consolidation was formed at the resistance level of 0.9750.
The price is finding the first support at 0.9650, the next one is 0.9540. The price is finding the first resistance at 0.9750, the next one is at 0.9850.
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 under the Cloud.
The MACD indicator is in a positive territory. The price is consolidating.
We advise to long with the first target - 0.9850. When the pair consolidates above the first target, we can open deals to the level of 0.9960.