USD/CHF (a 4- hour chart)
The Swiss franc fell on Wednesday amid a general rally of the U.S. dollar. Before the FED's desicion the American statistics was in the spotlight.
According to the Commerce Department, the number of housing starts jumped in November by 22.7% to 1.09 million, exceeding the wildest predictions and reached the highest level since February 2008. The number of building permits issued in the area remains five-year high, indicating a continuing trend of growth in the housing market in 2014.
The pair overcame 0.8900 and directed to 0.8960. There is a resistance at 0.9020 and then at 0.9100. The immediate support is at 0.8920 (December 13 highest mark).
We have a buy signal - confirmed and weak as Chinkou Span is above the price and the price just left the Ichimoku cloud.
The upward movement will be as long as price is above the Kijun- sen.
Bollinger bands show the beginning of the upward movement
MACD histogram crossed the zero line upwards and it is located in the positive zone and above its signal line.
Yesterday, the dollar/franc resumed its growth rising to 0.8950. The price tested the level consolidating at it.
Should the pair continue the growth it may go to 0.8990. We expect a consolidation at a current level.