Currency pair Dollar Franc USD/CHF ends the trading week near the level of 0.9009. The pair continues to move within the framework of growth development and has left the bearish channel. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines upward, which indicates pressure from buyers of the American currency and a potential continuation of the instrument’s growth from current levels. At the moment, we should expect an attempt to develop a price decline and a test of the support area near the level of 0.8965. Next, a rebound upwards and an attempt to continue the growth of the currency pair with a potential target above the level of 0.9675.
USD/CHF Forecast April 1 — 5, 2024
An additional signal in favor of growth in the Dollar Franc currency pair will be a test of the trend line on the relative strength indicator (RSI). The second signal will be a rebound from the upper border of the bearish channel. Cancellation of the USD/CHF rise will be a fall and a breakdown of the 0.8725 area. This will indicate a breakdown of the support area and a continued decline in the pair on Forex with a target below the 0.8365 area. Confirmation of the growth of the pair in the current trading week of April 1 — 5, 2024 will be a breakdown of the resistance area and closing of quotes above the level of 0.9265, which will indicate a breakdown of the upper boundary of the Double Bottom reversal pattern and the beginning of the development of a pattern with targets above.
USD/CHF Forecast April 1 — 5, 2024 assumes an attempt to develop a correction and test the support level near the 0.8965 area. Then, the USD/CHF pair continues to grow to the area above the level of 0.9675. A test of the trend line on the relative strength index (RSI) will support the rise. Cancellation of the USD/CHF growth option will be a breakdown of the support area and closing of quotes below the level of 0.8725. This will indicate a continued decline in the pair with a potential target below the level of 0.8365.
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