USD/CHF (a 4- hour chart)
The dollar/franc is consolidating with a tendency to decrease. The pair is influenced by the pressure from the negative attitude to the dollar and demand for the Swiss currency in the growing pair franc/yen. Nevertheless, the pair decline will be constrained by the Swiss National Bank tendency to loose monetary policy.
The support is 0.8740. The resistance is 0.8800.
The price is below the cloud and under Chinkou-Span, that’s a confirmed buy signal. The Kijun-sen is moving horizontally. The Tenkan-sen is directed down. The cloud is directed upwards. The southern movement remains until Kijun-Sen is above the price.
The MACD histogram crossed the zero line downwards; it continues to gradually decline.
The first goal 0.8740 is recommended for the short positions. If the price is fixed below, we recommend regarding the level 0.8700 as the target.