Source: PaxForex Premium Analytics Portal, Technical Insight

USD/CHF is traded below the lower boundary of Ichimoku Kinko Hyo Cloud. This indicates a sideways trend for this currency pair. The lower boundary of the Ichimoku Kinko Hyo Cloud near 0.9575 is expected to be tested this week. Therefore, an attempt to rebound and further fall of the pair with a potential target near the level of 0.9255 should be expected.

USD/CHF, 30 min

Pivot: 0.9510

Analysis:

Provided that the currency pair is traded above 0.9490, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.9510
• Take Profit 1: 0.9550
• Take Profit 2: 0.9575

Alternative scenario: 

In case of breakdown of the level 0.9490, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.9490
• Take Profit 1: 0.9455
• Take Profit 2: 0.9430

Comment:

RSI shows the possibility of an uptrend momentum. 

Key levels:

USD/CHF, D1

Pivot: 0.9516

Analysis:

While the price is below 0.9650, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.9516
• Take Profit 1: 0.9375
• Take Profit 2: 0.9255

Alternative scenario:

If the level 0.9650 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 0.9650
• Take Profit 1: 0.9770
• Take Profit 2: 0.9900

Comment:

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

Key levels: