USD/CHF (a 4 hour chart)
According to the official data Switzerland continues to show the producer prices and the import prices decline in September. Economic expectations and the current economic situation assessment have also deteriorated.
The franc has stabilized, however, remained under pressure against the dollar weakening. The dollar rose after the data showed that initial jobless claims increased last week in the United States, but the basic trend indicates the improving labor market conditions.
The price is finding the first support at 0.9500, the next one is at 0.9430. The price is finding the first resistance at 0.9560, the next one is at 0.9620.
There is a confirmed and a strong buy signal. The price is above 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 upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is decreasing.
We advise to long with the first target - 0.9560. When the pair consolidates above the first target, we can open deals to the level of 0.9620.