USD/CHF (a 4- hour chart)
Last Friday the frank rose up despite the fact that the government's employment report in the U.S. was better than expected, which indicates an improvement in the labor market. Statistics showed that the U.S. economy created 175,000 new jobs in February, which exceeded analysts' forecasts by140,000. The unemployment rate, however, rose up to 6.7% from 6.6%.
The support level is 0.8740. The resistance level is 0.8800; the next – 0.8850.
The pair is falling. Tenkan-sen and Kijun-sen are horizontal. The southern movement is strong. The cloud is directed down. The southern movement remains until Kijun-Sen is located above the price.
Bollinger bands still show a downward movement.
MACD histogram is in a negative zone. The histogram is descending.
We recommend to consider short positions with the first goal - 0.8724. When the price consolidates below the first target, the road to the level 0.8671 will be opened.