The Swiss National Bank left the monetary policy unchanged last week, the deposit rate was kept at -0.75%. Thomas Jordan, head of the Bank of Switzerland, warned about the negative consequences of a prolonged period of negative interest rates, as it may lead to the escape of the capital.
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 correcting.
We recommend going short with the first target - 0.9660. When the price consolidates below the first target it may go to the level 0.9580.