13, October 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The franc has lost some won positions against the US dollar and started a consolidation.

The price is finding the first support at 0.9560, the next one is at 0.9500. The price is finding the first resistance at 0.9620, the next one is at 0.9680.

The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement 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 - 0.9500. When the pair consolidates below the first target, we can open deals to the level of 0.9430.