Currency pair USD/CHF Dollar/Franc closes the trading week near the level of 0.9398. The pair continues to move within the correction and the downward channel. Moving averages indicate a downward trend. Prices went down from the area between the signal lines, indicating strong pressure from sellers of the American currency and the potential continuation of the fall of the instrument. At the moment, we should expect an attempt at another fall in prices and a test of the support area near the level of 0.9315. Further, a rebound and an attempt to continue the growth of the pair with a potential target above the level of 0.9815.
USD/CHF Forecast and Analysis July 13 — 17, 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 USD/CHF will be a fall and a breakdown of the area of 0.9165. This will indicate a breakdown of the support area and the continuation of the fall of the pair on Forex with the target below the area of 0.8875. Confirmation of the pair’s rise in the current trading week July 13 — 17, 2020 will be a breakdown of the resistance area and closing of quotations above the level of 0.9635, which will indicate a breakdown of the upper border of the downward channel.
Among the important news from Switzerland that may have an impact on the Swiss franc against the US Dollar, it is worth highlighting: Speech by the Chairman of the Swiss National Bank (SNB).
USD/CHF Forecast and Analysis July 13 — 17, 2020 implies an attempt to test the support level near the area of 0.9315. Then, continued growth of USD/CHF to the area above the level of 0.9815. 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 0.9165. This will indicate a continued fall of the pair with a potential target below the level of 0.8875.
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