USD/CHF | US Dollar to Swiss Franc Trading Analysis
USD/CHF | US Dollar to Swiss Franc Trading Analysis
Source: PaxForex Premium Analytics Portal, Technical Insight
Almost two-thirds of Swiss voters in a referendum opposed the abolition of the agreement with the EU on the free movement of people. In a referendum in Switzerland, people voted against breaking the agreement with the EU on the free movement of people.
USD/CHF, 30 min
Pivot: 0.9142
Analysis:
Provided that the currency pair is traded below 0.9165, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.9142
- Take Profit 1: 0.9120
- Take Profit 2: 0.9105
Alternative scenario:
In case of breakout of the level 0.9165, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.9165
- Take Profit 1: 0.9185
- Take Profit 2: 0.9200
Comment:
RSI shows the possibility of a descending momentum.
Key levels:
| Resistance | Support |
| 0.9200 | 0.9120 |
| 0.9185 | 0.9105 |
| 0.9165 | 0.9085 |
USD/CHF, D1
Pivot: 0.9165
Analysis:
While the price is below 0.9170, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.9165
- Take Profit 1: 0.9070
- Take Profit 2: 0.9000
Alternative scenario:
If the level 0.9170 is broken-out, follow the recommendations below.
- Time frame: D1
- Recommendation: long position
- Entry point: 0.9170
- Take Profit 1: 0.9295
- Take Profit 2: 0.9355
Comment:
RSI shows the development of a downtrend in the medium-term.
Key levels:
| Resistance | Support |
| 0.9355 | 0.9070 |
| 0.9295 | 0.9000 |
| 0.9170 | 0.8950 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - buy above 1.1770 with 1.1815 and 1.1835 targets as Take Profit. Alternative scenario - if the level 1.1770 is broken-down, sell with the TP 1.1750 and 1.1735.
GBP/USD – buy above 1.2960 with 1.3010 and 1.3035 as Take Profit targets. Alternative scenario - if the level of 1.2960 is broken-down, you should consider selling with the targets 1.2935 and 1.2900 as Take Profit.
AUD/USD - short positions below 0.7170 with 0.7155 and 0.7130 targets as Take Profit. Alternative scenario - if the level of 0.7170 is broken-out, buy with the targets 0.7210 and 0.7225 as Take Profit.