Currency pair USD/CHF Dollar/Franc closes the trading week near the level of 0.9985. The pair continues to move in the framework of growth and the bullish channel. 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 the rise in prices and test the resistance area near the level of 1.0105. Further, a rebound and an attempt to fall the pair with a potential target below the level of 0.9645.
USD/CHF Forecast and Analysis December 2 — 6, 2019
An additional signal in favor of reducing the Dollar/Franc currency pair will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the descending «Wolfe Wave» pattern. Cancellation of the option to reduce USD/CHF will be a strong growth and a breakdown of the 1.0265 area. This will indicate a breakdown of the upper boundary of the Wolfe Wave model and continued growth of the pair on Forex with a target above the area of 1.0455. A confirmation of the fall of the pair in the current trading week December 2 — 6, 2019 will be a breakdown of the support area and closing of quotations below the level of 0.9845.
USD/CHF Forecast and Analysis December 2 — 6, 2019 suggests an attempt to test the resistance level near the area of 1.0105. Then, the continuation of the fall of USD/CHF to the area below the level of 1.0335. A test of the trend line on the relative strength index (RSI) will be in favor of falling. Cancellation of the option to reduce USD/CHF will be a breakdown of the resistance area and closing of quotations above the level of 1.0265. This will indicate continued growth of the pair with a potential target above the level of 1.0455.
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