USD/CHF (a 4-hour chart)
Yesterday investors' attention was directed to the weekly US labor market report – Initial Jobless Claims (268K vs. forecast 275K). Switzerland published Industrial Production (-2,2% vs. previous -7,4%).
The price is finding the first support at 0.9850, the next one is at 0.9750. The price is finding the first resistance at 0.9940, the next one is at 1.0020.
There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement, forming a “Dead Cross”. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is correcting.
We recommend going short with the first target - 0.9850. When the price consolidates below the first target it may go to the level 0.9750.