The Swiss National Bank published the Foreign Currency Reserves report for April. (588B vs. previous 576B). The NSHB spoke of its willingness to intervene in the currency market as one of the policy instruments.
The price is finding the first support at 0.9660, the next one is at 0.9580. The price is finding the first resistance at 0.9750, the next one is at 0.9850.
There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement forming a “Golden Cross”. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is increasing.
We advise to long with the first target - 0.9750. When the pair consolidates above the first target, we can open deals to the level of 0.9850.