The Swiss Consumer Prices on annual basis continued to decline in March. The index fell by 0.9% compared with a year earlier. The Consumer Prices on monthly basis has been growing for the second month in a row. The prices rose by 0.3% as expected in March, compared with the growth of 0.2% in February.
The price is finding the first support at 0.9500, the next one is at 0.9420. The price is finding the first resistance at 0.9580, the next one is at 0.9660.
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 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 with the first target - 0.9500. When the price consolidates below the first target it may go to the level 0.9420.