12, December 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The Swiss National Bank decision about the interest rates can influence the pair dynamics.

It is expected that the central bank will leave monetary policy unchanged. The pair has a support because of the large market relations improvement towards the dollar.

The price is finding the first support at 0.9680, the next one is at 0.9620. The price is finding the first resistance at 0.9750, the next one is at 0.9800.

The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Dead Cross”.

The MACD indicator is in a negative territory. The price is correcting.

Trading recommendations

We advise to short with the first target - 0.9620. When the pair consolidates under the first target, we can open deals to the level of 0.9560.