USD/CHF (a 4 hour chart)
The franc still tries to rise. The Swiss currency resumed its decline against the dollar last week. The Fed representative Stanley Fischer said in his speech that the Fed would not intervene in the foreign exchange market and called the recent dollar rise entirely appropriate. He also noted that the US dollar would remain low for some time that can mean a two months or a year range.
The price is finding the first support at 0.9500, the next one is at 0.9430. The price is finding the first resistance at 0.9560, the next one is at 0.9620.
There is a non-confirmed and a weak sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen show a downward movement and form a “Dead cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is consolidating.
We advise to long with the first target - 0.9620. When the pair consolidates above the first target, we can open deals to the level of 0.9680.