28, January 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

A half of the last week the dollar teamed up with the Swiss franc trying to break and close above the resistance level 0.9118. It was able to get through, but was not able to consolidate there.

As a result the pair was subjected to sale and having broken through the psychological level 0.9000 fell to 0.8902.

The southern movement is remained until Kijun-Sen is located above the price. Tenkan-sen is crossing Kijun-sen downwards. The cloud is descending. The price is below the Cloud.

Bollinger bands still show a downward movement.
MACD histogram is located in a negative zone. The histogram is descending.

Trading recommendations

We have a support at 0.8902 which is currently successfully copes with its task. Its loss would mean the resumption of the downward trend, and then the 88th figure testing. If the demand for the dollar remains it will return above the level 0.9000.