18, December 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair continued its weak upward movement. The dollar is near the two-week high against the basket of major currencies after the Federal Reserve has raised interest rates for the first time for ten years. The pair has strengthened and broke through the resistance level of 0.9960.

The price is finding the first support at 0.9960, the next one is at 0.9850. The price is finding the first resistance at 1.0100, the next one is at 1.0190.

The price is in the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement.

The MACD indicator is in a positive territory. The price is growing.

Trading recommendations

We advise to long with the first target – 1.0100. When the pair consolidates above the first target, we can open deals to the level of 1.0190.