14, March 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The Swiss frank reached a maximum level versus the U.S. dollar since 2011, as well as strengthened versus all other major currencies ahead of the data publication on Thursday on retail sales and industrial production in China.

The support level is 0.8690. The nearest resistance level is 0.8740, the next - 0.8800.

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. When the price consolidates below the first target, we advise to consider 0.8671 level as the next goal.