• Key interest rate was left at -0.75%;
• The franc remains heavily overvalued;
• The SNB will remain active in the foreign exchange market if necessary;
• The pandemic continues to have a severe adverse effect on the economy;
• Inflation forecast for 2021 0.2% (pre. 0.0%);
• For 2022 0.4% (pre. 0.2%);
• For 2023 0.5%;
• GDP forecast for 2021 2.5% - 3.0%;
• Economic activity should return to pre-crisis levels in the 2nd half of 2021;
• Economic and inflation forecasts still carry a high level of uncertainty.

USD/CHF, 30 min

Pivot: 0.9392

Analysis:

Provided that the currency pair is traded above 0.9380, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.9392
• Take Profit 1: 0.9405
• Take Profit 2: 0.9415

Alternative scenario: 

In case of breakdown of the level 0.9380, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.9380 
• Take Profit 1: 0.9370
• Take Profit 2: 0.9360

Comment:

RSI shows the possibility of ascending momentum. 

Key levels:

Resistance --- Support

0.9450 -------- 0.9380

0.9430 -------- 0.9370

0.9415 -------- 0.9360

USD/CHF, D1

Pivot: 0.9392

Analysis:

While the price is above 0.9210, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.9392 
• Take Profit 1: 0.9530
• Take Profit 2: 0.9600

Alternative scenario:

If the level 0.9210 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 0.9075
• Take Profit 1: 0.9110
• Take Profit 2: 0.9020

Comment:

RSI shows the development of an uptrend in the medium-term.

Key levels:

Resistance -- Support

0.9700 -------- 0.9210

0.9600 -------- 0.9110

0.9530 -------- 0.9020

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