USD/CHF (a 4 hour chart)
The Federal Statistical Office report data showed the Switzerland retail turnover level decreased in May. It also recorded a consumer prices decrease in June. We expect the yield data on Switzerland producer price index. If the index actual value is considered lower than expected, it should become a negative reason for the franc.
The price is finding the first support at 0.8920, the next one is at 0.8890.
The price is finding the first resistance at 0.8950, the next one is at 0.9000. There is a non-confirmed and weak buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a neutral territory.
We recommend going long with the first target - 0.8940. When the price consolidates above the first target it may grow to the level 0.9000.