The Switzerland National Bank head Mr. Jordan reiterated that the franc was overbought and the Central Bank was ready to intervene if necessary. However, Jordan declined to comment whether the Bank had intervention lately. Switzerland published the Consumer Climate index Q1 report. The index showed -14.0. The previous value was -18.0.
The price is finding the first support at 0.9850, the next one is at 0.9750. The price is finding the first resistance at 0.9960, the next one is at 1.0100.
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 and the Kijun-sen show a downward movement forming a “Dead Cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is decreasing.
We recommend going short with the first target - 0.9850. When the price consolidates below the first target it may go to the level 0.9750.