USD/CHF (a 4 hour chart)
The Swiss franc rose against the dollar after the US statistics publication. The data showed that the US producer price index rose 0.2% in October while analysts expected a decline by 0.1%. The figure rose by 1.5% in annual terms that is higher the forecast by 1.3%.
The price is finding the first support at 0.9560, the next one is at 0.9500. The price is finding the first resistance at 0.9620, the next one is at 0.9680.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows a downward movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is decreasing.
We recommend going short with the first target - 0.9500. When the price consolidates below the first target it may go to the level 0.9430.