USD/CHF (a 4 hour chart)
Frank acts as a «safe haven currency» and the current dollar weakness only helps to strengthen the Swiss currency. The frank rising against the dollar amid the latter weakness after the news resource Wall Street Journal published the Fed John Hilsenrata’s words that the Federal Reserve is actually considering the possibility of further quantitative easing (QE3) in anticipation of speech by Fed Chairman Ben Bernanke before Congress on Thursday.
The price is finding the first support at 0.8920. The resistance is at 0.8950.
The price is above the Cloud and above Chinkou-Span, that’s a weak and confirmed sell signal. The Cloud is directed upwards. The upward movement remains until Kijun-Sen is under the price.
MACD is in the positive territory, the indicator is decreasing.
The franc on the foreign exchange market is now advised to consider short positions with the first target - 0.8901. When fixing prices below the first target, a target for sales is encouraged to consider the level 0.8869.
We advise to short with the first target - 0.8901. When the price consolidates below the first target, be advised to consider the level 0.8869 as the next one.