Currency pair USD/CHF Dollar/Franc completes the trading week near the level of 1.0037. The pair continues to move within the framework of the correction and the formation of the «Wedge» model. Moving averages indicate an uptrend. At the moment, we should expect an attempt to reduce and test the support area near the level of 0.9955. Further, the continued growth of the pair with a target above the level of 1.0185.
USD/CHF Forecast and Analysis March 18 — 22, 2019
In favor of the growth of the Dollar/Franc will make a test of the support line on the indicator of relative strength index (RSI). As well as 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 0.9835. This will indicate a breakdown of the lower boundary of the rising channel and the continuation of the fall of the pair on FOREX. Confirmation of the growth of the pair in the current trading week of March 18 — 22, 2019 will be the breakdown of the resistance area and the closing of quotations above 1.0085.
Among the important news from Switzerland, which may have an impact on the Swiss Franc rate against the US dollar, it is worth highlighting: The decision of the National Bank of Switzerland on the Libor rate, Evaluation of monetary policy.
USD/CHF Forecast and Analysis March 18 — 22, 2019 implies an attempt to test the support level near the area of 0.9955. Then continued growth of USD/CHF to the area above the level of 1.0185. A test of the trend line on the relative strength index (RSI) will be in favor of the rise. Cancellation of the growth option USD/CHF will be a breakdown of the support area and closing of quotes below the level of 0.9835. This will indicate a continuation of the fall of the pair with a potential target below the level of 0.9550.