08, January 2015

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The Swiss franc remains in the range against the dollar. The factory orders report for November, published on Tuesday, showed the orders decline by 0.7% that is worse than the average analyst forecast by 0.4%.

The price is finding the first support at 1.0100, the next one is at 1.0030. The price is finding the resistance at 1.0200.

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 shows an upward movement and the Kijun-sen shows 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 – 1.0200.