31, March 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

The frank continues to follow the euro/dollar and, accordingly, remains positive. The SNB representative Tsurbryugg said that it was necessary to keep the euro/franc 1.20 level limit as only this condition is an obstacle to a monetary tightening. According to Tsurbryugga, the franc price is still too high.

The support level is in the area of 0.8850, the next one is 0.8800. The resistance is 0.8890.

The price is above the cloud and under Chinkou-Span, that’s a confirmed buy signal. Both trend lines are moving horizontally. The cloud is directed upwards. The northern movement remains until Kijun-Sen is located below the price.

MACD is in a positive area. The indicator is growing showing a buy signal.

Trading recommendations

The Franc is directed towards 0.8890. After fixing above the level 0.8920 will become the next goal.