28, November 2014

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

The Swiss franc has consolidated against the dollar the second day in a row after the US data release that fixed the jobless claims growth and the orders decrease, resulting in the intensified speculations about the world's largest economy growth prospects.

The price is finding the first support at 0.9620, the next one is at 0.9560. The price is finding the first resistance at 0.9680, the next one is at 0.9750.

There is a non-confirmed and a weak buy signal. The price above in the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Dead Cross”. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a neutral territory. The price is increasing.

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.