Fort Financial Services - Analytics

    Fort Financial Services

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    USD/CHF (a 4 hour chart)

    USD/CHF (a 4 hour chart)

    General overview

    The dollar fell sharply against the Swiss franc after the Fed's decision to leave the monetary policy unchanged. The National Bank of Switzerland hold its meeting on Thursday, as we expected the regulator decided not to change its policy.

    The first support resides at 0.9660, the next is at 0.9580. The first resistance stands at 0.9750, the next one is at 0.9850.

    There is a confirmed and a strong sell signal. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The downward movement will be until the price is under the Cloud.

    The MACD indicator is in a negative territory. The price is decreasing.

    Trading recommendations

    We recommend going short. When the price consolidates below the level of 0.9660 it may go to the level 0.9560.

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