USD/CHF (a 4 hour chart)
The US and eurozone weak macroeconomic data put pressure on the pound and the euro on Tuesday as investors continue to consider that the US economic prospects are better than the Europe ones.
Against this background the US dollar has only won as it was able to recover after the Monday fall against the Swiss franc.
The price is finding the first support at 0.9430, the next one is at 0.9370. The price is finding the first resistance at 0.9500, the next one is at 0.9560.
There is a non-confirmed and a weak sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen show a downward movement and form a “Dead cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is consolidating.
We recommend the short positions with the first target at 0.9430. If the first target is overcome, the next target will be 0.9370.