13, March 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The Swiss frank increased on Wednesday amid the general weakening of the U.S. dollar.
Ukraine is still in the spotlight. Russia shows no desire to progress in solving the conflict with Ukraine on the Crimea, where a referendum is scheduled to be held on March 16.
Also on Tuesday, Russia announced that the planned by the U.S. financial assistance to Ukraine is illegitimate and contrary to the U.S. laws.

The support level is 0.8740. The resistance level is 0.8800, the next is 0.8850.

The pair is decreasing. Tenkan-sen and Kijun-sen are directed down. 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.

Trading recommendations

We advise to open short orders with the first goal -0.8724.