Currency pair USD/CHF Dollar/Franc closes the trading week near the level of 0.9550. The pair continues to move as part of the correction and the formation of the bullish «Wolfe Wave” model. Moving averages indicate a downward trend. Prices have gone 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 to reduce prices again and test a support area near the level of 0.9475. Further, a rebound and an attempt to continue the growth of the pair with a potential target above the level of 1.0145.
USD/CHF Forecast and Analysis June 15 — 19, 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 area. Cancellation of the growth option USD/CHF will be a fall and a breakdown of the area of 0.9305. 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 0.9005. Confirmation of the pair’s rise in the current trading week June 15 — 19, 2020 will be a breakdown of the resistance area and closing of quotations above the level of 0.9855, which will indicate a breakdown of the upper boundary of the «Triangle» model.
Among the important news from Switzerland, which may affect the rate of the Swiss Franc against the US Dollar, it is worth highlighting: Swiss National Bank (SNB) Interest Rate Decision, Swiss National Bank (SNB) News Conference.
USD/CHF Forecast and Analysis June 15 — 19, 2020 implies an attempt to test the support level near the area of 0.9475. Then, continued growth of USD/CHF to the area above the level of 1.0145. 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 0.9305. This will indicate a continued fall of the pair with a potential target below the level of 0.9005.
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