USD/CHF (a 4 hour chart)
The US employment weak economic data have reduced the likelihood that the US Federal Reserve soon will raise the interest rates that fact led to the stocks’ increase. It also became known that the retail sales fell by 1.1% in annual terms after the August decline by 0.8%.
The pair continued its downward movement and broke through the support level of 0.9540 and firmly fixed below this mark, we do not see any correction signs.
The price is finding the first support at 0.9420, the next one is 0.9370. The price is finding the first resistance at 0.9540, the next one is at 0.9650.
There is a confirmed and a strong sell signal. The price is below the Cloud and it is below the Chinkou Span. The Tenkan-sen and the Kijun-sen are directed downwards. The downward movement will be until the price is below the Cloud.
The MACD is in a negative territory. The price is decreasing.
The first target is the level of 0.9420, the second one is 0.9370.