14, August 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The Swiss consumers’ sentiment got worsen in the second quarter, fell short of expectations. The news did not have an effect on the franc.

The dollar/franc will consolidate after reaching a 3-day high of 0.9104. The pair is supported by the market large-scale improvement against the dollar, the Swiss National Bank monetary policy easing and the franc/yen sales.

The price is finding the first support at 0.9060, the next one is at 0.9030. The price is finding the resistance at 0.9090, the next one is at 0.9130.

There is a confirmed and weak sell signal. The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement.

The MACD indicator is in a negative territory. The price is correcting downwards.

Trading recommendations

We recommend short positions with the first target - 0.9030. The second target is the level 0.9000.