Source: PaxForex Premium Analytics Portal, Technical Insight

The Swiss central bank reacted to another semiannual report published by the US Treasury, in which the new US administration removed Switzerland from the list of countries, which are currency manipulators. The SNB statement noted, among other things:

• Foreign exchange interventions are not intended to affect a country's balance of payments or to gain an unfair competitive advantage;
• Foreign exchange interventions are necessary to ensure price stability and proper monetary conditions;
• The monetary policy of the Central Bank remains the same, the Central Bank is ready to intervene in the forex market because of the high overvaluation of the franc;
• We will continue the dialogue with the US Treasury, we are in regular contact.

USD/CHF, 30 min

Pivot: 0.9208

Analysis:

Provided that the currency pair is traded above 0.9180, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.9208
• Take Profit 1: 0.9230
• Take Profit 2: 0.9245

Alternative scenario: 

In case of breakdown of the level 0.9180, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.9180 
• Take Profit 1: 0.9160
• Take Profit 2: 0.9140

Comment:

RSI shows the possibility of ascending momentum. 

Key levels:

USD/CHF, D1

Pivot: 0.9206

Analysis:

While the price is below 0.9210, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.9206 
• Take Profit 1: 0.9110
• Take Profit 2: 0.9020

Alternative scenario:

If the level 0.9210 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.9210
• Take Profit 1: 0.9480
• Take Profit 2: 0.9600

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 intraday trading:

EUR/USD - sell below 1.1975 with 1.1935 and 1.1920 targets as Take Profit. Alternative scenario - if the level 1.1975 is broken-out, buy with the TP 1.1990 and 1.2010. 
GBP/USD – buy above 1.3805 with 1.3875 and 1.3900 as Take Profit targets. Alternative scenario - if the level of 1.3805 is broken-down, you should consider selling with the targets 1.3780 and 1.3760 as Take Profit.
AUD/USD - sell below 0.7745 with 0.7700 and 0.7680 targets as Take Profit. Alternative scenario - if the level of 0.7745 is broken-out, buy with the targets 0.7760 and 0.7775 as Take Profit.