Source: PaxForex Premium Analytics Portal, Technical Insight

Excessive government measures to combat the coronavirus have dealt a heavy blow to the Swiss economy. The national GDP now awaits a slow and thorny recovery path. It is the opinion of analysts of the Swiss bank Credit Suisse. According to the credit institution, the Swiss economy will be able to fully return to the crisis level no earlier than the end of 2021.

USD/CHF, 30 min

Pivot: 0.9284

Analysis:

Provided that the currency pair is traded above 0.9265, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.9284
• Take Profit 1: 0.9300
• Take Profit 2: 0.9325

Alternative scenario: 

In case of breakdown of the level 0.9265, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.9265
• Take Profit 1: 0.9245
• Take Profit 2: 0.9225

Comment:

RSI shows the possibility of an ascending momentum. 

Key levels:

USD/CHF, D1

Pivot: 0.9282

Analysis:

While the price is above 0.9170, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.9282
• Take Profit 1: 0.9355
• Take Profit 2: 0.9465

Alternative scenario:

If the level 0.9170 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 0.9170
• Take Profit 1: 0.9070
• Take Profit 2: 0.9000

Comment:

RSI shows the development of an uptrend 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 1.1645 with 1.1610 and 1.1590 targets as Take Profit. Alternative scenario - if the level 1.1645 is broken-out, buy with the TP 1.1660 and 1.1685. 
GBP/USD – buy above 1.2740 with 1.2805 and 1.2835 as Take Profit targets. Alternative scenario - if the level of 1.2740 is broken-down, you should consider selling with the targets 1.2710 and 1.2685 as Take Profit.
AUD/USD - long positions above 0.7025 with 0.7085 and 0.7110 targets as Take Profit. Alternative scenario - if the level of 0.7025 is broken-down, sell with the targets 0.7000 and 0.6980 as Take Profit.