Currency pair USD/CHF Dollar/Franc closes the trading week near the level of 0.9736. The pair continues to move within the correction and the upward channel. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to reduce and test the support area near the level of 0.9705. Further, a rebound and an attempt to grow the pair with a potential target above the level of 1.0105.
USD/CHF Forecast and Analysis August 12 — 16, 2019
In favor of the rise of the Dollar/Franc currency pair, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option USD/CHF will be a fall and a breakdown of the area of 0.9515. This will indicate a breakdown of the lower border of the channel and continued fall of the pair on Forex and continued fall with the target below 0.9265. A confirmation of the growth of the pair in the current trading week from August 12 — 16, 2019 will be a breakdown of the resistance area and closing of quotations above the level of 0.9815, which will indicate the quotes go beyond the downward channel.
USD/CHF Forecast and Analysis August 12 — 16, 2019 suggests an attempt to test the support level near the area of 0.9705. Then continued growth of USD/CHF to the area above the level of 1.0105. A test of the trend line on the relative strength index (RSI) will be in favor of the rise. Cancellation of the USD/CHF growth option will be a breakdown of the support area and closing of quotations below the level of 0.9515. This will indicate a continued fall of the pair with a potential target below 0.9265.
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