26, November 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The franc continues to win back its positions against the dollar and is waiting for the new reference points.

The price is finding the first support at 0.9620, the next one is at 0.9560. The price is finding the first resistance at 0.9680, the next one is at 0.9720.

The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement.

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

Trading recommendations

We recommend going long with the first target - 0.9680. When the price consolidates above the first target it may go to the level 0.9750.