14, April 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

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.

Trading recommendations

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.