FX.co ★ USD/CHF technical overview for May 4, 2011

The franc is still in a downtrend. The Alligator is directed down. The distance between Moving averages indicates that the downside tendency strengthens. Bill Williams’s Awesome Oscillator confirms downside movement. The CCI-14 forecasts a slight upside correction for today as the CCI line is leaving the oversold zone.

The MACD is demonstrating convergence with the price and confirms the market’s intention to decline.