Source: PaxForex Premium Analytics Portal, Technical Insight
"The U.S. dollar's role as the world's reserve currency is not threatened by anything," Fed Deputy Chairman Richard Clarida said, according to Reuters:
- Balancing supply and demand in the labor market may take some time;
- The Central Bank's digital currency is in its advantages and disadvantages stage;
- Updating existing payment systems will provide the benefits of CB digital currency.
USD/CHF, 30 min
Pivot: 0.9018
Analysis:
Provided that the currency pair is traded below 0.9035, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.9018
- Take Profit 1: 0.8995
- Take Profit 2: 0.8980
Alternative scenario:
In case of breakout of the level 0.9035, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.9035
- Take Profit 1: 0.9050
- Take Profit 2: 0.9065
Comment:
RSI shows the possibility of descending momentum.
Key levels:
| Resistance | Support |
| 0.9065 | 0.8995 |
| 0.9050 | 0.8980 |
| 0.9035 | 0.8950 |
USD/CHF, D1
Pivot: 0.9014
Analysis:
While the price is below 0.9155, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.9014
- Take Profit 1: 0.8920
- Take Profit 2: 0.8830
Alternative scenario:
If the level 0.9155 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.9155
- Take Profit 1: 0.9265
- Take Profit 2: 0.9360
Comment:
RSI shows the development of a downtrend in the medium-term.
Key levels:
| Resistance | Support |
| 0.9360 | 0.8920 |
| 0.9265 | 0.8830 |
| 0.9155 | 0.8750 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - buy above 1.2145 with 1.2190 and 1.2210 targets as Take Profit. Alternative scenario - if the level 1.2145 is broken-down, sell with the TP 1.2125 and 1.2105.
GBP/USD – buy above 1.4130 with 1.4220 and 1.4190 as Take Profit targets. Alternative scenario - if the level of 1.4130 is broken-down, you should consider selling with the targets 1.4110 and 1.4090 as Take Profit.
AUD/USD - buy above 0.7765 with 0.7825 and 0.7845 targets as Take Profit. Alternative scenario - if the level of 0.7765 is broken-down, sell with the targets 0.7745 and 0.7725 as Take Profit.
