17, April 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The US weak economic data triggered the US dollar weakening against the most of its competitors, including the Swiss franc.

The US Treasury Secretary Lew said that the US economy achieved sustainable growth. According to the Fed economic review "Beige Book" the activity growth was noted in the most regions.

The price is finding the first support at 0.9540, the next one is at 0.9370. The price is finding the first resistance at 0.9750, the next one is at 0.9950.

There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen 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 decreasing.

Trading recommendations

We advise to short with the first target - 0.9370. When the pair consolidates above the first target, we can open deals to the level of 0.9280.