23, October 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Swiss franc retreated against the general dollar rise. The Switzerland trade balance data showed the $ 2.45 billion surplus. However, both exports (3.3%) and imports (7.4%) have fallen.

The pair USD/CHF rebounded to 0.9535 and stabilized near the daytime highs.

The price is finding the first support at 0.9500, the next one is at 0.9430. The price is finding the first resistance at 0.9560, the next one is at 0.9620.

There is a non-confirmed and a weak buy signal. The price is on the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement 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 positive territory. The price is growing.

Trading recommendations

We advise to long with the first target - 0.9560. When the pair consolidates above the first target, we can open deals to the level of 0.9620.