Source: PaxForex Premium Analytics Portal, Technical Insight
The deputy head of the SNB Zurbrügg said in an interview with Blick:
- It is premature to talk about long-term rate changes;
- Negative rates, intervention in the foreign exchange market is still necessary;
- In the past year, the Central Bank has spent 100 billion SFR on interventions.
USD/CHF, 30 min
Pivot: 0.9278
Analysis:
Provided that the currency pair is traded above 0.9260, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.9278
- Take Profit 1: 0.9290
- Take Profit 2: 0.9305
Alternative scenario:
In case of breakdown of the level 0.9260, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.9260
- Take Profit 1: 0.9240
- Take Profit 2: 0.9215
Comment:
RSI shows the possibility of ascending momentum.
Key levels:
| Resistance | Support |
| 0.9325 | 0.9260 |
| 0.9305 | 0.9240 |
| 0.9290 | 0.9215 |
USD/CHF, D1
Pivot: 0.9282
Analysis:
While the price is above 0.9075, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.9282
- Take Profit 1: 0.9470
- Take Profit 2: 0.9600
Alternative scenario:
If the level 0.9075 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.9075
- Take Profit 1: 0.8930
- Take Profit 2: 0.8830
Comment:
RSI shows the development of an uptrend in the medium-term.
Key levels:
| Resistance | Support |
| 0.9760 | 0.9075 |
| 0.9600 | 0.8930 |
| 0.9470 | 0.8830 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - sell below 1.1930 with 1.1880 and 1.1860 targets as Take Profit. Alternative scenario - if the level 1.1930 is broken-out, buy with the TP 1.1955 and 1.1975.
GBP/USD – sell below 1.3935 with 1.3865 and 1.3850 as Take Profit targets. Alternative scenario - if the level of 1.3935 is broken-out you should consider buying with the targets 1.3955 and 1.3975 as Take Profit.
AUD/USD - short positions below 0.7765 with 0.7695 and 0.7665 targets as Take Profit. Alternative scenario - if the level of 0.7765 is broken-out, buy with the targets 0.7790 and 0.7815 as Take Profit.
