19, March 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The franc stabilized after reaching the maximum level versus the U.S. dollar since 2011. The Swiss National Bank may resort to negative rates if the ECB lowers the interest rates at its April meeting, because any pressure from the ECB will influence the franc. The ECB rate cut in April is more likely to happen, to avoid further inflation reduce.

The support is 0.8690. The first resistance is 0.8740, the next one - 0.8800.

The pair is decreasing. Tenkan-Sen and Kijun-Sen are directed down. The southern movement is strong. The cloud is directed down. The southern movement remains until Kijun-Sen is located above the price.

Bollinger bands still show a downward movement.
MACD histogram is in a negative zone. The histogram is descending.

Trading recommendations

The sellers have a goal - 0.8690. The next one is 0.8640.