31, May 2016

USD/CHF (a 4-hour chart)

USD/CHF (a 4-hour chart)

General overview

KOF published Leading Indicator for April (102.9 vs. previous 102.6 and forecast 102.8).

Current situation

The bulls in the pair USD/CHF could take the dollar upwards, the pair broke the mark of 0.9940. Still the USD/CHF could not hold over the level and started a downward correction. The second part of the day the pair remained below 0.9940. The resistance is at the level of 0.9940, the support is at 0.9850.

MACD is in a positive area. The histogram is below the signal line. MACD kept decreasing. The signal is bearish. RSI is neutral.

Trading recommendations

We recommend going long with the first target - 0.9940. When the price consolidates above the first target it may go to the level 1.0020.