12, June 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Swiss franc was traded within the established range against the U.S. dollar.

The dollar continues to be kept afloat by the growth yield on 10 year bonds, which exceeded 2.65% for the first time since May 13, before retreating to 2.633%.

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.

Trading recommendations

We advise to consider long positions with the first target - 0.9010. After the price fixing above the first target, the level 0.9087 will become the second one.