Currency pair Dollar Franc USD/CHF ends the trading week near the level of 0.8669. The pair continues to move within the development of growth and a descending channel. The moving averages indicate the presence of a bearish trend. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers of the American currency and a potential continuation of the instrument’s fall from the current levels. At the moment, we should expect an attempt to develop price growth and a test of the resistance area near the level of 0.8745. Next, a rebound downwards and an attempt to continue the fall of the currency pair with a potential target below the level of 0.8425.
USD/CHF Forecast and Analysis August 19 — 23, 2024
An additional signal in favor of a decline 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 descending channel. The cancellation of the USD/CHF fall option this trading week will be a strong increase in quotes and a breakout of the 0.8875 area. This will indicate a breakout of the resistance area and a continuation of the pair’s rise on Forex with a target above the 0.9125 area. A breakout of the support area and closing of quotes below the 0.8565 level will confirm the pair’s fall in the current trading week of August 19 — 23, 2024.
USD/CHF Forecast and Analysis August 19 — 23, 2024 suggests an attempt to develop a bullish correction and a test of the resistance level near the 0.8745 area. Then, the USD/CHF pair will continue to fall to the area below the 0.8425 level. A test of the trend line on the relative strength indicator will be in favor of the decline. The cancellation of the USD/CHF fall option will be a breakout of the resistance area and closing of quotes above the 0.8875 level. This will indicate a continuation of the pair’s rise with a potential target above the level of 0.9125.
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