USD/CHF (a 4 hour chart)
Swiss franc retreated after the dollar index rebounded from a six-month low area. It happened after Fed Chairman Janet Yellen said that she was confident in the continued the USA economy growth.
FOMC expects that it will take significant time between the assets purchase program tapering and the first interest rates growth.
The first support is 0.8740, and the next one is 0.8700. The first resistance is 0.8800, the next is one 0.8850. The price is under the Cloud and under Chinkou-Span, that’s a weak and confirmed sell signal.
The upward movement remains until Kijun-Sen is under the price.
The MACD histogram is pointing up, indicating the current uptrend movement rates.
If the pair keeps growing it might break the Ichimoku cloud soon. If the USD/CHF consolidates above the cloud that will weaken the downward movement. The growth targets are 0.8800 and 0.8850.