USD/CHF (a 4-hour chart)
The Swiss GDP for the second quarter increased by 0.2% q/q and rose up by 1.2% y/y. The data was better than economists' expectations by 0.1% q/q 0.8% y/y. The private consumption growth was 0.3%, investments in equipment + 1.5%, Swiss exports fell by 0.2% in the second quarter.
The US dollar is recovering its positions, reaching the strong resistance level of 0.9650. This level was short-term broken upwards then there was a rebound downwards.
The price is finding the first support at 0.9540, the next one is at 0.9370. The price is finding the first resistance at 0.9650, the next one is at 0.9750.
The price is in 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 “Golden Cross”.
The MACD indicator is in a positive territory. The price is growing.
We advise to long with the first target - 0.9650. When the pair consolidates below the first target, we can open deals to the level of 0.9750.