USD/CHF (a 4 hour chart)
The Swiss franc strengthened against the dollar. Some economists have lowered GDP growth forecast for the U.S. for the 1st quarter: Goldman Sachs expects the figure at 0.6 % vs. 0.3 % previously; Barclays predicts 0.2 % vs. 0.1 %.
Note that at the end of 2013, economists forecasted U.S. GDP growth in the 1st quarter by 4%. The forecasts for the second quarter rose to an average of 3.5 % from 3.0 %, however, it gives rise to the first half of only 1.6%.
The first support is 0.8740, and the next one is 0.8700. The first resistance is 0.8800, the next is one 0.8850.
The price is under the Cloud and under Chinkou-Span, that’s a strong and confirmed sell signal.The downward movement remains until Kijun-Sen is above the price.
The MACD histogram is pointing down, indicating the current downtrend movement rates.
The franc is advised to sell with the first target - 0.8720. When the price consolidates below the first target, the pair might go to the level 0.8670.