USD/CHF (a 4- hour chart)
The U.S. dollar paired with the Swiss franc fell down again. The pair will be under pressure from the market participants negative attitude to the dollar and a demand for the Swiss currency, declining in the euro/franc. The pair’s potential reduction will be constrained by the sales in the Swiss currency pair, weakening the franc/yen, the Swiss National Bank tendency to soft its policy and the correction positions.
The support is 0.8740. The resistance is 0.8800.
The price is below the cloud and under Chinkou-Span, that’s a confirmed buy signal. The Kijun-sen is moving horizontally. The Tenkan-sen is directed down. The cloud is directed downwards. The southern movement remains until Kijun-Sen is above the price.
The MACD histogram crossed the zero line downwards; it continues to gradually decline.
The pair is going down. The indicators show a downward movement to the level 0.8740. The rebound may happen to 0.8800 any time now.