27, November 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The Swiss franc showed a growth continuation. The dollar was unable to maintain its achievements, despite the positive statistics release, including the GDP data and the house price index.

The price is finding the first support at 0.9560, the next one is at 0.9500. The price is finding the first resistance at 0.9620, the next one is at 0.9680.

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

The MACD indicator is in a neutral 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.