23, December 2013

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

Swiss Franc continued its decline against the backdrop of the U.S. dollar's rally after the FOMC reduced the amount of the asset purchase program by $ 10 billion, leaving interest rates unchanged, which was seen as a signal that the recovery of the world's largest economy is gathering pace.

USD/CHF overcame 0.8900 and set a new maximum at 0.8990. There is a resistance 0.9020 above the current one, then 0.9100 goes. Immediate support is at 0.8940/20 (maximum December 13 December 19 hours minimum), in the area below 0.8830 ( December 17 low level ) .

The price direction is northern. Chinkou Span is above the price. The price is above the cloud.

Northern movement is remained until Kijun-Sen is located below the price. Tenkan-sen is growing, Kijun sen is horizontal.

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.

Trading recommendations

The price movement is uncertain. The pair has just left the cloud but can get into in any moment. If the pair gets into the cloud the chances to a decrease grow.

In case of a continued growth the pair will go to 0.8990. 0.9040.