Source: PaxForex Premium Analytics Portal, Technical Insight

The head of the Swiss pharmaceutical giant Novartis, Vasant "Vas" Narasimhan refuted earlier predictions that the drug to combat coronavirus is on the horizon. He says that it would be much more realistic to assume that the pandemic will remain with us next year. Vasant Narasimhan said that the Covid-19 virus is causing more problems than expected, spreading a series of micro pandemics affecting different countries. 

USD/CHF, 30 min

Pivot: 0.9082

Analysis:

Provided that the currency pair is traded above 0.9070, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.9082
• Take Profit 1: 0.9120
• Take Profit 2: 0.9135

Alternative scenario: 

In case of breakdown of the level 0.9070, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.9070
• Take Profit 1: 0.9055
• Take Profit 2: 0.9035

Comment:

RSI shows the possibility of a ascending momentum. 

Key levels:

USD/CHF, D1

Pivot: 0.9115

Analysis:

While the price is below 0.9200, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.9115
• Take Profit 1: 0.9000
• Take Profit 2: 0.8940

Alternative scenario:

If the level 0.9200 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 0.9200
• Take Profit 1: 0.9290
• Take Profit 2: 0.9390

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 1.1845 with 1.1800 and 1.1780 targets as Take Profit. Alternative scenario - if the level 1.1845 is broken-out, buy with the TP 1.1860 and 1.1880. 
GBP/USD – sell below 1.3160 with 1.3115 and 1.3090 as Take Profit targets. Alternative scenario - if the level of 1.3160 is broken-out, you should consider buying with the targets 1.3180 and 1.3200 as Take Profit.
AUD/USD - short positions below 0.7205 with 0.7180 and 0.7165 targets as Take Profit. Alternative scenario - if the level of 0.7205 is broken-out, buy with the targets 0.7215 and 0.7230 as Take Profit.