Source: PaxForex Premium Analytics Portal, Technical Insight

The USD/CHF currency pair is trading at 0.9496 and keeps moving within the decline. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Indicator Cloud. This indicates that the USD/CHF pair is in a bearish trend.

USD/CHF, 30 min

Pivot: 0.9504

Analysis:

Provided that the currency pair is traded below 0.9530, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.9504
• Take Profit 1: 0.9475
• Take Profit 2: 0.9450

Alternative scenario: 

In case of breakout of the level 0.9530, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.9530
• Take Profit 1: 0.9560
• Take Profit 2: 0.9585

Comment:

RSI shows the possibility of a downtrend momentum. 

Key levels:

USD/CHF, D1

Pivot: 0.9619

Analysis:

While the price is below 0.9770, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.9619
• Take Profit 1: 0.9375
• Take Profit 2: 0.9255

Alternative scenario:

If the level 0.9770 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 0.9770
• Take Profit 1: 0.9900
• Take Profit 2: 1.0020

Comment:

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

Key levels: