USD/CHF (a 4 hour chart)
The US currency raised at the end the yesterday trades. Earlier the franc rose against the dollar after the mixed US data.
The published report showed that the consumer confidence index rose to 94.5 pp in October against the expected level of 87 pp. The previous value was revised to 89.0 pp (from 86.0 pp).
The price is finding the first support at 0.9430, the next one is at 0.9370. The price is finding the first resistance at 0.9500, the next one is at 0.9560.
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 an upward movement and the Kijun-sen shows 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 growing.
We advise to short with the first target - 0.9430. When the pair consolidates below the first target, we can open deals to the level of 0.9370.