USD/CHF (a 4 hour chart)
The Swiss franc grew slightly against the U.S. currency. The Fed’s consumer credit report on May showed the consumer lending growth by $ 19.60 billion, which is higher than the average analyst forecast of $16.30 billion. The previous month figure was revised down to $26.12 billion from $26.80 billion.
The price is finding the first support at 0.8880, the next one is at 0.8850. The price is finding the first resistance at 0.8920, the next one is at 0.8950. There is a confirmed and weak buy signal. The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement, and the Kijun-sen an upward one, both lines form a “Dead cross”.
The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory.
We recommend the short positions. The goal is - 0.8880. After the first target overcoming, the buyers can consider 0.8870 as their next target.