Currency pair Dollar Franc USD/CHF ends the trading week near the level of 0.8951. The pair continues to move as part of the development of the correction and the downward channel. Moving averages indicate a bullish 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 decline from current levels. At the moment, we should expect an attempt to develop a price rise and a test of the resistance area near the level of 0.9025. Next, a rebound downwards and an attempt to continue the fall of the currency pair with a potential target below the level of 0.8665.
USD/CHF Forecast and Analysis July 15 — 19, 2024
An additional signal in favor of a decline in the Dollar Franc currency pair will be a test of the downward trend line on the relative strength indicator (RSI). The second signal will be a rebound from the upper border of the downward channel. Cancellation of the option to reduce USD/CHF in the current trading week will be a strong increase in quotes and a breakdown of the 0.9145 area. This will indicate a breakdown of the resistance area and continued growth of the pair on Forex with a target above the 0.9385 area. Confirmation of the fall of the pair in the current trading week of July 15 — 19, 2024 will be a breakdown of the support area and closing of quotes below the level of 0.8745.
USD/CHF Forecast and Analysis July 15 — 19, 2024 assumes an attempt to develop a correction and test the resistance level near the 0.9025 area. Then, the USD/CHF pair continues to fall to the area below the level of 0.8665. A test of the trend line on the relative strength index (RSI) will support a decline. Cancellation of the USD/CHF fall option will be a breakdown of the resistance area and closing of quotes above the level of 0.9145. This will indicate continued growth of the pair with a potential target above the level of 0.9385.
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