USD/CHF | US Dollar to Swiss Franc Trading Analysis
USD/CHF | US Dollar to Swiss Franc Trading Analysis
Source: PaxForex Premium Analytics Portal, Technical Insight
Swiss pharmaceutical giant Roche has agreed to supply the EU with medicines for experimental treatment of coronavirus. The company, headquartered in Basel, has already signed a corresponding agreement with the European Commission.
USD/CHF, 30 min
Pivot: 0.9175
Analysis:
Provided that the currency pair is traded below 0.9190, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.9175
- Take Profit 1: 0.9160
- Take Profit 2: 0.9150
Alternative scenario:
In case of breakout of the level 0.9190, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.9190
- Take Profit 1: 0.9210
- Take Profit 2: 0.9230
Comment:
RSI shows the possibility of a descending momentum.
Key levels:
| Resistance | Support |
| 0.9230 | 0.9160 |
| 0.9210 | 0.9150 |
| 0.9190 | 0.9135 |
USD/CHF, D1
Pivot: 0.9213
Analysis:
While the price is below 0.9355, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.9213
- Take Profit 1: 0.9175
- Take Profit 2: 0.9040
Alternative scenario:
If the level 0.9355 is broken-out, follow the recommendations below.
- Time frame: D1
- Recommendation: long position
- Entry point: 0.9355
- Take Profit 1: 0.9465
- Take Profit 2: 0.9530
Comment:
RSI shows the development of a downtrend in the medium-term.
Key levels:
| Resistance | Support |
| 0.9530 | 0.9040 |
| 0.9465 | 0.8940 |
| 0.9355 | 0.8000 |
We also advise you to pay attention to the following currency pairs for intraday trading:
USD/CAD - sell below 1.3385 with 1.3355 and 1.3340 targets as Take Profit. Alternative scenario - if the level 1.3385 is broken-out, buy with the TP 1.3405 and 1.3430.
GBP/USD - long positions above 1.2900 with 1.2950 and 1.2985 targets as Take Profit. Alternative scenario - if the level of 1.2900 is broken-down, sell with the targets 1.2860 and 1.2835 as Take Profit.
AUD/USD – buy above 0.7145 with 0.7195 and 0.7220 as Take Profit targets. Alternative scenario - if the level of 0.7145 is broken-down, you should consider selling with the targets 0.7125 and 0.7110 as Take Profit.