Source: PaxForex Premium Analytics Portal, Technical Insight
Chairman of the U.S. Senate Banking Committee Sherrod Brown urged the Federal Reserve to explore the possibility of issuing a digital dollar. The official sent a corresponding letter to agency chairman Jerome Powell.
According to Brown, the Fed should become a leader in national digital currencies (CBDC). The Senator said that if the U.S. misses this opportunity, it may be left "out of history" and lose its leading role in the financial system.
USD/CHF, 30 min
Pivot: 0.9300
Analysis:
Provided that the currency pair is traded above 0.9270, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.9300
- Take Profit 1: 0.9320
- Take Profit 2: 0.9340
Alternative scenario:
In case of breakdown of the level 0.9270, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.9270
- Take Profit 1: 0.9255
- Take Profit 2: 0.9230
Comment:
RSI shows the possibility of ascending momentum.
Key levels:
Resistance | Support |
0.9360 | 0.9270 |
0.9340 | 0.9255 |
0.9320 | 0.9230 |
USD/CHF, D1
Pivot: 0.9298
Analysis:
While the price is above 0.9075, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.9298
- Take Profit 1: 0.9470
- Take Profit 2: 0.9600
Alternative scenario:
If the level 0.9075 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.9075
- Take Profit 1: 0.8930
- Take Profit 2: 0.8830
Comment:
RSI shows the development of an uptrend in the medium-term.
Key levels:
Resistance | Support |
0.9760 | 0.9075 |
0.9600 | 0.8930 |
0.9470 | 0.8830 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - sell below 1.1905 with 1.1850 and 1.1835 targets as Take Profit. Alternative scenario - if the level 1.1905 is broken-out, buy with the TP 1.1920 and 1.1935.
GBP/USD – sell below 1.3900 with 1.3825 and 1.3800 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 - short positions below 0.7725 with 0.7615 and 0.7580 targets as Take Profit. Alternative scenario - if the level of 0.7725 is broken-out, buy with the targets 0.7750 and 0.7775 as Take Profit.