24, July 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The dollar rose against the Swiss franc. The U.S. currency held the near six-week high against the other major currencies basket after the data showed that the U.S. consumer price inflation rose in June, broadly in line with expectations.

The price is finding the first support at 0.9000, the next one is at 0.8950. The price is finding the first resistance at 0.9035, the next one at 0.9060.

There is a confirmed and strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is consolidating.

Trading recommendation

We advise to long with the first target - 0.9035. After the trend line 0.9035 breakthrough up the way to the level of 0.9060 will be opened.