USD/CHF (a 4 hour chart)
The industrial production growth rate increased in the first quarter, according to preliminary figures released by the Federal Statistical Office. The industrial production growth in the first quarter was 0.5% compared with the first quarter last year. The current data also exceeded the fourth quarter results when there was a growth 0.3%. We can highlight the increase in turnover of 0.1% which compensates the last quarter reduction, fixed at 0.1%. The YoY significant growth (4.3%) showed new orders, after decreasing by 0.5% in the fourth quarter.
The price is finding the first support at 0.8950. The resistance is at 0.9000.
The price is above the Cloud and above Chinkou-Span, we have a strong and confirmed buy signal. The Cloud is directed upwards. The upward movement remains until Kijun-Sen is under the price.
MACD is in the positive territory, the indicator is growing.
We recommend going short with the first target - 0.8950. When the price consolidates below the first target it may go to the level 0.8920.