24, April 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

Investors cut their dollar positions after 2 week growth, while the market hardly reacted to the U.S. housing market statistics publication. Thus, the data showed that sales in the secondary market decreased in March by 0.2% compared to February when sales fell by 0.4%. However, the house price index in February rose 0.6 % after rising 0.4 %.

Trading recommendations

We still recommend going long with the first target - 0.8860. After the price consolidates above the first target we would recommend buying to the level 0.8885.