16, February 2015

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The pair dollar/franc will be consolidated with the risks balance, biased to the downside after it has reached the eight-day high of 0.9340 on Thursday.

The pair is under the market deteriorating relationships pressure towards the US dollar. The pair potential target is constrained by the Switzerland negative interest rates, by the Swiss National Bank intervention threat with the franc sales and the Swiss franc sales within the growing pair euro/franc.

The price is finding the first support at 0.9150, the next one is at 0.8940. The price is finding the first resistance at 0.9340, the next one is at 0.9540.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a neutral territory. The price is consolidating.

Trading recommendations

The pair is consolidating now. We should wait till the pair will came out of the flat.