USD/CHF (a 4-hour chart)
The pair is under pressure from the deteriorated market’s attitude towards the dollar and demand for the Swiss currency within the growing pair franc/yen. The pair potential reduction is constrained by the Switzerland negative interest rates, the intervention threat by the Swiss National Bank with the franc sales and the correction position.
The price is finding the first support at 0.9950, the next one is at 0.9750. The price is finding the resistance at 1.0160.
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 positive territory. The price is consolidating.
We advise to long with the first target – 1.0290.