19, June 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

Swiss government forecasts the GDP growth in 2014 by 2.0% against the previous forecast of 2.2%: in 2015, GDP growth will be 2.6% versus 2.7% previously.

The dollar exchange rate was relatively stable in relation to the franc. The data from the United States, which came on Monday, showed that the economic situation continues to improve.

The price is finding the first support at 0.8950. The resistance is at 0.9000.

The price is below the Cloud and below Chinkou-Span, we have a strong and confirmed sell signal. The Cloud is neutral. The downward movement remains until Kijun-Sen is above the price.

MACD is in the positive territory, the indicator is decreasing.

Trading recommendations

We recommend considering the short positions with the first target - 0.8942. When the price consolidates above the first target it will go to the level 0.8880.