USD/CHF (a 4 hour chart)
The dollar fell against the franc. Earlier the pair dollar/franc strengthened amid growing interest in dollar buying and the European shares recovery. The Chinese stock markets stabilized, European markets are recovering that reduces the demand for the safe assets, including the franc. The Switzerland unemployment rate rose to 3,7% from 3,4%, exceeding the forecast of 3,6%. The consumer prices fell in December by 1,3% y/y, after falling 1,4%.
The first support resides at 0.9850, the next is at 0.9750. The first resistance stands at 0.9960, the next one is at 1.0100.
The price is in the Cloud and is above the Chincou-span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement forming a “Dead Cross”.
The MACD indicator is in a negative territory. The price is decreasing.
We advise to short with the first target - 0.9850. When the pair consolidates below the first target, we can open deals to the level of 0.9750.