29, April 2014

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The franc retreated versus the dollar. The Swiss National Bank Head Jordan said, that the franc is too high: there is still a sudden appreciation danger; the EUR/CHF at 1.2000 remains a key in determining monetary policy instruments; there is no inflation threat in the foreseeable future; the referendum on emigration in Switzerland solutions do not contribute to stability in the economy.

From a technical point of view, the USD/CHF is above 0.8800, but it continues to trade under the pressure. The support is at 0.8700. The immediate resistance is at 0.8850. Further resistance is at 0.8900 and 0.8950.

The fist support is 0.8740, and the next one is 0.8700. The fist resistance is 0.8800, the next is one 0.8850.
The price is in the Cloud and under Chinkou-Span, that’s a weak sell signal.

The downward movement remains until Kijun-Sen is above the price.

The MACD histogram is decreasing.

Trading Recommendations

The franc has the short positions with the first goal - 0.8790. When the price comsolidates below the first target, the level 0.8765 will become the next target for selling.