29, May 2015

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The Swiss franc is correcting after this week decline. Earlier the franc declined amid the dollar growth as many traders believe that this year the Fed still will resort to raising interest rates. Investors also monitor the situation in Spain and Greece.

The price is finding the first support at 0.9370, the next one is at 0.9280. The price is finding the first resistance at 0.9540, the next one is at 0.9750.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows an upward movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is correcting.

Trading recommendations

We advise to short with the first target - 0.9370. When the pair consolidates above the first target, we can open deals to the level of 0.9280.