Source: PaxForex Premium Analytics Portal, Technical Insight

Tighter quarantine restrictions due to the Coronavirus pandemic will continue to impede Switzerland's economic recovery. The KOF estimates that there are two scenarios for Swiss GDP. Both have something in common: the Swiss economy will not recover before 2023.

USD/CHF, 30 min

Pivot: 0.9181

Analysis:

Provided that the currency pair is traded below 0.9205, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.9181
• Take Profit 1: 0.9150
• Take Profit 2: 0.9130

Alternative scenario: 

In case of breakout of the level 0.9205, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.9205
• Take Profit 1: 0.9225
• Take Profit 2: 0.9245

Comment:

RSI shows the possibility of a descending momentum. 

Key levels:

USD/CHF, D1

Pivot: 0.9165

Analysis:

While the price is above 0.9020, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.9165
• Take Profit 1: 0.9295
• Take Profit 2: 0.9395

Alternative scenario:

If the level 0.9020 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 0.9020
• Take Profit 1: 0.8890
• Take Profit 2: 0.8750

Comment:

RSI shows the development of a downtrend in the medium-term.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

EUR/USD - buy above 1.1625 with 1.1680 and 1.1700 targets as Take Profit. Alternative scenario - if the level 1.1625 is broken-down, sell with the TP 1.1600 and 1.1580. 
GBP/USD – buy above 1.2905 with 1.2960 and 1.2990 as Take Profit targets. Alternative scenario - if the level of 1.2905 is broken-out, you should consider selling with the targets 1.2890 and 1.2860 as Take Profit.
AUD/USD - short positions below 0.7060 with 0.6990 and 0.6970 targets as Take Profit. Alternative scenario - if the level of 0.7060 is broken-out, buy with the targets 0.7085 and 0.7110 as Take Profit.