USD/CHF (a 4 hour chart)
The dollar rose sharply against all its major counterparts after the Federal Reserve meeting. The FOMC updated the main macroeconomic indicators’ forecasts: GDP in 2014, 2.0% 2.2% 2.1% against 2.3% in June; GDP in 2015 2.6% 3.0%; 2.6% 2.9% in 2016; 2.3% 2.5% in 2017. The Fed does not expect to achieve the inflation target level at least until 2016. The USD/CHF remains in the same range.
The price is finding the first support at 0.9330, the next one is at 0.9270. The price is finding the first resistance at 0.9370, the next one is at 0.9430.
The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement shows a downward movement and form a “Golden Cross”.
The MACD indicator is in a positive 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.