16, January 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The Swiss franc slightly retreated versus the U.S. dollar after the publication of the strong data. The U.S. statistics showed that retail sales rose in December by 0.2%, while sales excluding auto increased by 0.7%. Both figures were higher than the average estimates of analysts, who had forecast an increase of 0.1% and 0.4% respectively. Meanwhile the sales figure for November was revised up to 0.4% from 0.7%. In the context of 12 months 2013 sales rose by 4.2%.

The power that the pair demonstrated during the Asian session on Wednesday pointed it on resistance 0.9095. Restoration from the minimum of Monday 0.8985 kept the three-day phase of consolidation in the upper part of a broader growth 0.8800 to 0.9127. A break above 0.9095 will set a pair on peak of 8 January 0.9127 again. Only a break below 0.8985 will bother traders betting on the dollar growth..

The price is directed downwards though it is corrected. Chinkou Span is above the price. The price is above the cloud.

The northern movement is remained until Kijun-Sen is located below the price. Tenkan-sen is crossing Kijun sen downwards. The cloud is growing.

Bollinger bands still show an upward movement though the indicator started turning down.
MACD histogram is located in the positive zone. The histogram is descending.

Trading recommendations

The northern is gaining forces again. If the pair leaves the cloud the USD/CHF will grow to 0.9130.