23, February 2015

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The dollar slightly strengthened against all of its major competitors. The US economic data marked a mixed trend, but a part of the messages, relating to employment, provided some support for the US dollar.

The pair dollar/franc easily broke through the level of 0.9340 after it tested the level of 0.9540. Then the pair decreased.

The price is finding the first support at 0.9340, the next one is at 0.9150. The price is finding the first resistance at 0.9540, the next one is at 0.9750.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen shows a horizontal movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a neutral territory. The price is falling.

Trading recommendations

We advise to long with the first target - 0.9540. When the pair consolidates above the first target, we can open deals to the level of 0.9750.