USD/CHF (a 4 hour chart)
The first Switzerland March statistics supported the franc. On the background of zero inflation, Switzerland Bank said that the currency reserves grew.
The franc strengthened its position amid escalating geopolitical tensions. The lack of macroeconomic publications on U.S. trades has focused investors on foreign policy.
The first support is 0.8800, the next one is 0.8780. The first resistance is 0.8850.
The price is below the cloud and under Chinkou-Span, that’s a confirmed buy signal. The Kijun-sen is moving horizontally. The Tenkan-sen is directed down. The cloud is directed upwards. The southern movement remains until Kijun-Sen is above the price.
MACD is in the negative area, the histogram is descending.
The pair is still in an upward channel at its low boundary. If the boundary is broken the upward correction will be over and the pair will return to the falling. If the price consolidates below the resistance 0.8850, it may continue the downward trend in a short term. The potential target is 0.8800.