USD/CHF | US Dollar to Swiss Franc Trading Analysis

USD/CHF | US Dollar to Swiss Franc Trading Analysis

Written by: PaxForex analytics dept - Thursday, 08 April 2021 0 comments

Source: PaxForex Premium Analytics Portal, Technical Insight

During the continuing speech, the president of the Chicago Fed Reserve Bank C. Evans almost verbatim repeated the well-known statement of Fed chairman J. Powell: It's too early to even begin discussing the need to discuss the rollback of QE.

USD/CHF, 30 min

Pivot: 0.9291

Analysis:

Provided that the currency pair is traded below 0.9310, follow the recommendations below:

  • Time frame: 30 min
  • Recommendation: short position
  • Entry point: 0.9291
  • Take Profit 1: 0.9270
  • Take Profit 2: 0.9245

Alternative scenario: 

In case of breakout of the level 0.9310, follow the recommendations below:

  • Time frame: 30 min
  • Recommendation: long position
  • Entry point: 0.9310 
  • Take Profit 1: 0.9335
  • Take Profit 2: 0.9365

Comment:

RSI shows the possibility of descending momentum. 

Key levels:

Resistance     Support
0.9365 0.9270
0.9335 0.9245
0.9310 0.9220

USD/CHF, D1

Pivot: 0.9294

Analysis:

While the price is above 0.9210, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 0.9294 
  • Take Profit 1: 0.9480
  • Take Profit 2: 0.9600

Alternative scenario:

If the level 0.9210 is broken-down, follow the recommendations below:

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 0.9210
  • Take Profit 1: 0.9110
  • Take Profit 2: 0.9020

Comment:

RSI shows the development of an uptrend in the medium-term.

Key levels:

Resistance     Support
0.9700 0.9210
0.9600 0.9110
0.9480 0.9020

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

EUR/USD - buy above 1.1855 with 1.1910 and 1.1930 targets as Take Profit. Alternative scenario - if the level 1.1855 is broken-down, sell with the TP 1.1835 and 1.1820. 
GBP/USD – buy above 1.3730 with 1.3800 and 1.3835 as Take Profit targets. Alternative scenario - if the level of 1.3730 is broken-down, you should consider selling with the targets 1.3710 and 1.3690 as Take Profit.
AUD/USD - long positions above 0.7600 with 0.7660 and 0.7675 targets as Take Profit. Alternative scenario - if the level of 0.7600 is broken-down, sell with the targets 0.7585 and 0.7570 as Take Profit.