Currency pair USD/CHF Dollar/Franc closes the trading week near the level of 0.9839. The pair continues to move as part of the fall and the formation of the «Wolfe Wave» model. Moving averages indicate a flat trend. However, prices are above the signal lines, indicating pressure from buyers of the American currency. At the moment, we should expect an attempt to continue to reduce prices and test the support area near the level of 0.9625. Further, a rebound and an attempt to grow the pair with a potential target above the level of 1.0255.
USD/CHF Forecast and Analysis December 16 — 20, 2019
An additional signal in favor of the growth of the Dollar/Franc currency pair will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower «Wolfe Wave» model. Cancellation of the USD/CHF growth option will be a fall and a breakdown of the 0.9405 area. This will indicate a breakdown of the lower border of the ascending channel and the continuation of the fall of the pair on FOREX with the target below 0.9215. A confirmation of the growth of the pair in the current trading week December 16 — 20, 2019 will be a breakdown of the resistance area and closing of quotations above the level of 1.0065.
USD/CHF Forecast and Analysis December 16 — 20, 2019 suggests an attempt to test the support level near the area of 0.9625. Then continued growth of USD/CHF to the area above the level of 1.0255. A test of the trend line on the relative strength index (RSI) will be in favor of the rise. The cancellation of the USD/CHF growth option will be a breakdown of the support area and closing of quotations below the level of 0.9405. This will indicate a continued fall of the pair with a potential target below the level of 0.9215.
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