14, July 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The retail turnover level was declined in Switzerland in May, as it was showed in the Federal Statistical Office report data. The consumer prices decrease was also recorded in June.

The U.S. dollar strengthened after the stronger-than-expected data release on the initial jobless claims. According to the statistics, the number fell by 11,000 to 304,000, while the analysts forecasted 320,000.

Trading recommendation

We recommend going short with the first target - 0.8890. When the price consolidates below the first target it may go to the level 0.8850.