Currency pair USD/CHF Dollar/Franc completes the trading week near the level of 0.9925. The pair continues to move within the correction and the ascending channel. Moving averages indicate a flat trend. At the moment, we should expect an attempt to reduce and test the support area near the level of 0.9765. Further, the rebound and the attempt to grow a pair with a potential target above the level of 1.0325.
USD/CHF Forecast and Analysis July 29 — August 2, 2019
The test of the support line on the relative strength indicator will be in favor of the rise of the Dollar/Franc currency pair. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the growth option USD/CHF will be the fall and the breakdown of the area of 0.9565. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of the pair at Forex and the continuation of the fall with the goal below the 0.9345 area. Confirmation of the growth of the pair in the current trading week of July 29 — August 2, 2019 will be the breakdown of the resistance area and the closing of quotations above 1.0055, which will indicate the completion of the «Head and Shoulders» reversal pattern.
USD/CHF Forecast and Analysis July 29 — August 2, 2019 implies an attempt to test the support level near the 0.9765 area. Then continued growth of USD/CHF to the area above the level of 1.0325. In favor of the rise will make a test trend line on the indicator of relative strength. Cancellation of the growth option USD/CHF will be the breakdown of the support area and closing of quotes below the level of 0.9565. This will indicate a continuation of the fall of the pair with a potential target below the level of 0.9345.
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