22, June 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair USD/CHF fell at the end of trades on Friday. The dollar consolidated its positions. The support for the US dollar came from the strong statistics which showed that the Federal Reserve Bank of Philadelphia business optimism index rose up to 15.2 pp vs. 8.0 pp in June and 6.7 pp in May.

In addition, the SNB President Jordan said yesterday that "it is risky to have long positions within the franc".

The price is finding the first support at 0.9160, the next one is at 0.9060. The price is finding the first resistance at 0.9280, the next one is at 0.9370.

There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal 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.

Trading recommendations

We advise to short with the first target - 0.9160. When the pair consolidates below the first target, we can open deals to the level of 0.9060.