Currency pair USD/CHF Dollar/Franc ends the trading week near the level of 0.9088. The pair continues to move within the decline and the downtrend channel. Moving averages indicate a downtrend. Prices have gone far down from the area between the signal lines, which indicates strong pressure from the sellers of the American currency and a potential continuation of the fall of the instrument. At the moment, we should expect an attempt at another price reduction and a test of the support area near the level of 0.9015. Further, a rebound and an attempt to continue the growth of the pair with a potential target above the level of 0.9445.
USD/CHF Forecast and Analysis August 17 — 21, 2020
An additional signal in favor of the growth of the Dollar Franc currency pair will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the support level on the price chart. Cancellation of the growth option for USD/CHF will be a fall and a breakdown of the 0.8845 area. This will indicate a breakdown of the support area and the continuation of the fall of the pair on Forex with a target below the 0.8505 area. Confirmation of the rise in the pair in the current trading week August 17 — 21, 2020 will be the breakdown of the resistance area and closing of quotations above the level of 0.9315.
USD/CHF Forecast and Analysis August 17 — 21, 2020 suggests an attempt to test the support level near the 0.9015 area. Then, the continued growth of USD/CHF to the area above the level of 0.9445. 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 0.8845. This will indicate a continued fall of the pair with a potential target below 0.8505.
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