USD/CHF (a 4- hour chart)
The franc partially offset the growth, experienced during the week. Temporary support to the dollar Friday had a statistic that has witnessed the producer price index growth by 0.5% in March, exceeding the economists’ median forecast by 0.1%. The March price increase was the highest since June. A separate report showed consumer confidence rise to the 9-months maximum.
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. If the pair consolidates above 0.8800 the correction may last to the level 0.8830.