24, March 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The Swiss franc remained under the pressure amid a general strengthening of the dollar after the FOMC decided to reduce the asset purchase program by $10 billion by withdrawing from the application target unemployment rate of 6.5%, and published forecasts of the main macroeconomic indicators.

The nearest support is at 0.8800, the next one is 0.8740. The resistance is at 0.8850, the nest one - 0.8890.

The pair is growing. Tenkan-Sen and Kijun-Sen are directed upwards. The northern movement is strong. The cloud is directed upwards. The northern movement remains until Kijun-Sen is located below the price.

Bollinger bands show a trend change. The bands are broadening.
MACD histogram is in a positive zone. The histogram is decreasing.

Trading recommendations

The Franc has a goal 0.8850. After fixing above the first target, the main goal will become the level 0.8890.