23, June 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Swiss National Bank, as analysts predicted, kept interest rates unchanged and is "ready to buy unlimited amount of foreign currency" if necessary. Thus, the Central Bank has confirmed its intention to continue to support the low interest rates policy, as well as limit the Swiss franc growth

The price is finding the first support at 0.8920, the next one is at 0.8890. The price is finding the first resistance at 0.8950, the next one is at 0.9000.

The price is under the Cloud and under Chinkou-Span, that’s a weak and confirmed sell signal.

The upward movement remains until Kijun-Sen is under the price.

MACD is in a negative territory.

Trading recommendations

The break below 0.8908 would target the pair to the support area of 0.8882/96.