USD/CHF (a 4 hour chart)
The price is still at the last trading week end level. The pair is trading at 0.9630.
Experts predict a decrease in the trade surplus balance from 1900 million to 1757 million francs. In addition, it is expected a decrease of working places. We suppose that the correction is almost over and we will see upward movement soon.
Positive data from the U.S., namely the increase in the indices of consumer confidence, business activity in the manufacturing sector and the growth of the index of housing prices can serve as a driver for this growth. That should have a positive impact for a dollar. This means that a potential growth will be caused not so much by the franc weakening but as the strengthening of the dollar.
Bollinger Bands are broadening.
MACD is in the positive area, the histogram began to go down.
The level of support and local minimums are 0.9576, 0.9519. Resistance levels are 0.9716, 0.9837.
Probably the pair will test the level 0.9576 during the day.
We recommend buying in the case of price reversal from the support level 0.9576 with profit-taking in the 0.9716 area.