USD/CHF (a 4 hour chart)
The dollar/franc will be consolidated with a tendency to grow, getting support from the market participants’ positive attitude towards the dollar. The August import price index fall turned out to be stronger in Switzerland than it was expected (-1.2% y/y against the expected -1.0% y/y) that contributes to the pair growth.
The price is finding the first support at 0.9270, the next one is at 0.9210. The price is finding the first resistance at 0.9330, the next one is at 0.9370.
There is a confirmed and a weak buy signal. The price is on the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement and form a “Dead Cross”. The cloud is still uprising.
The MACD indicator is in a neutral territory. The price is correcting.
We advise to long with the first target - 0.9370. When the pair consolidates above the first target, we can open deals to the level of 0.9430.