10, June 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

After Draghi's speech the U.S. currency began falling. As a result, the pair breaks the trend line and the key support at 0.9385 and then goes down.

Sellers' activity could be stopped on approach to the level 0.9200.

If the price fixes below the first target a new target will be available for the downward movement. The downward movement will be as long as the price is below Kijun-sen. If the price fixes above this level the sell signal would weaken and may be cancelled.

Bollinger Bands show a continued downward movement, the bands are broadening.
MACD is in a negative area and keeps going down.

Trading recommendations

It is possible continuation of the correction towards 0.9410.

Should the pair continue falling it will go to 0.9270.