Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. dollar rallied during early European trading on Tuesday, but remains near multi-week lows ahead of the Federal Reserve's two-day monetary policy meeting.
USD/CHF, 30 min
Pivot: 0.9151
Analysis:
Provided that the currency pair is traded above 0.9130, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.9151
- Take Profit 1: 0.9175
- Take Profit 2: 0.9190
Alternative scenario:
In case of breakdown of the level 0.9130, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.9130
- Take Profit 1: 0.9120
- Take Profit 2: 0.9105
Comment:
RSI shows the possibility of ascending momentum.
Key levels:
| Resistance | Support |
| 0.9260 | 0.9130 |
| 0.9190 | 0.9120 |
| 0.9175 | 0.9105 |
USD/CHF, D1
Pivot: 0.9136
Analysis:
While the price is below 0.9320, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.9136
- Take Profit 1: 0.9020
- Take Profit 2: 0.8925
Alternative scenario:
If the level 0.9320 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.9320
- Take Profit 1: 0.9470
- Take Profit 2: 0.9600
Comment:
RSI shows the development of a downtrend in the medium-term.
Key levels:
| Resistance | Support |
| 0.9600 | 0.9020 |
| 0.9470 | 0.8925 |
| 0.9320 | 0.8830 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - sell below 1.2095 with 1.2055 and 1.2045 targets as Take Profit. Alternative scenario - if the level 1.2095 is broken-out, buy with the TP 1.2115 and 1.2130.
GBP/USD – sell below 1.3900 with 1.3840 and 1.3825 as Take Profit targets. Alternative scenario - if the level of 1.3900 is broken-out, you should consider buying with the targets 1.3925 and 1.3950 as Take Profit.
AUD/USD - sell below 0.7770 with 0.7700 and 0.7685 targets as Take Profit. Alternative scenario - if the level of 0.7770 is broken-out, buy with the targets 0.7785 and 0.7800 as Take Profit.
