Source: PaxForex Premium Analytics Portal, Technical Insight

The USD/CHF currency pair trades at 0.9072 and keeps moving within the decline and descending channel. The pair trades below the lower boundary of the Ichimoku Kinko Hyo Indicator Cloud. It indicates a bearish trend for the asset.

USD/CHF, 30 min

Pivot: 0.9085

Analysis:

Provided that the currency pair is traded below 0.9100, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.9085
• Take Profit 1: 0.9045
• Take Profit 2: 0.9025

Alternative scenario: 

In case of breakout of the level 0.9100, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.9100
• Take Profit 1: 0.9130
• Take Profit 2: 0.9160

Comment:

RSI shows the possibility of a descending momentum. 

Key levels:

USD/CHF, D1

Pivot: 0.9091

Analysis:

While the price is below 0.9355, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.9091
• Take Profit 1: 0.8940
• Take Profit 2: 0.8860

Alternative scenario:

If the level 0.9355 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 0.9355
• Take Profit 1: 0.9465
• Take Profit 2: 0.9530

Comment:

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

Key levels: