25, April 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The dollar/franc has been trading in a figure “falling wedge” since April 2013. The 0.8860 resistance break will open the way to 0.8900, the rebound down from this resistance is more likely to happen. “The “bear's goal” for the next two weeks - 0.8600 (support wedge)", - told the FBS analysts.

The “bears” can not break below 0.8600 as a strong currency has a negative impact on the Swiss economy in the Ist quarter of the year. The government will not allow the situation a further deterioration.

The fist support is 0.8800, and the next one is 0.8740. The fist resistance is 0.8850, the next is one 0.8890.

The MACD histogram is decreasing.

Trading Recommendations

The sale with the first target - 0.8787 is recommended. When the price consolidates below the first target, the level 0.8739 may become the next one.