Source: PaxForex Premium Analytics Portal, Technical Insight

The USD/CHF currency pair is trading at 0.9374 and continues to move within the decline and descending channel. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Indicator Cloud. This indicates a bearish trend for the pair.

USD/CHF, 30 min

Pivot: 0.9365

Analysis:

Provided that the currency pair is traded below 0.9385, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.9365
• Take Profit 1: 0.9350
• Take Profit 2: 0.9340

Alternative scenario: 

In case of breakout of the level 0.9385, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.9385
• Take Profit 1: 0.9405
• Take Profit 2: 0.9420

Comment:

RSI shows the possibility of a downtrend momentum. 

Key levels:

USD/CHF, D1

Pivot: 0.9414

Analysis:

While the price is below 0.9530, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.9414
• Take Profit 1: 0.9255
• Take Profit 2: 0.9175

Alternative scenario:

If the level 0.9530 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 0.9530
• Take Profit 1: 0.9650
• Take Profit 2: 0.9770

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 intra-day trading:

USD/CAD - sell below 1.3540 with targets 1.3490, 1.3470 as Take Profit. Alternative scenario - if the level 1.3540 is broken-out, you should consider buying with the targets 1.3565 and 1.3590 as Take Profit.
GBP/USD - long positions above 1.2605 with 1.2650 and 1.2670 targets as Take Profit. Alternative scenario - if the level of 1.2605 is broken-down, sell with the targets 1.2565 and 1.2540 as Take Profit.
AUD/USD - buy above 0.6965 with 0.6995    and 0.7010 targets as Take Profit. Alternative scenario - if the level of 0.6965 is broken-down, sell with the TP 0.6950 and 0.6930.