24, February 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

Swiss Franc continues to follow the euro remaining under the pressure. The pair USD/CHF recovers from lows 0.8880 and is testing the resistance 0.8910/30 lower boundary now. The return above 0.9100 will make the growth target 0.9140/50 and 0.9180 (maximum of 20 November). The immediate support is at 0.8870. The loss may increase to 0.8830.

The pair is below the Cloud that cancels the northern movement. Tenkan-sen is crossing Kijun-sen downwards. The cloud is decreasing. The southern movement remains until Kijun-Sen is located above the price.

Bollinger bands still show a downward movement.
MACD histogram is in a negative zone. The histogram is descending.

Trading recommendations

The dollar could hold above the support at 0.8860. The pair was bought on falling to 0.8882/89, though there are no signs of a trend reversal. The reducing risks and the support at 0.8800 test remain and only the growth above 0.9000-0.9037 can improve the pair’s outlook.