Currency pair USD/CHF Dollar/Franc closes the trading week near the level of 0.9669. The pair continues to move as part of a strong fall and the start of the development of the bullish Wolfe Wave model. Moving averages indicate a downward trend. Prices pushed from the area between the signal lines, indicating strong pressure from sellers of American currency. At the moment, we should expect an attempt to reduce prices and test the support area near the level of 0.9565. Further, a rebound and an attempt to grow the pair with a potential target above the level of 1.0095.
USD/CHF Forecast and Analysis March 2 — 6, 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 lower bullish model «Wolfe Wave». Cancellation of the growth option USD/CHF will be a fall and a breakdown of the area of 0.9445. This will indicate a breakdown of the lower boundary of the model and the continuation of the fall of the pair on Forex with a target below the area of 0.9175. Confirmation of the growth of the pair in the current trading week March 2 — 6, 2020 will be a breakdown of the resistance area and closing of quotations above the level of 0.9995.
Among the important news from Switzerland that may have an impact on the Swiss Franc against the US Dollar, it is worth highlighting: Switzerland Gross Domestic Product (GDP) q/q.
USD/CHF Forecast and Analysis March 2 — 6, 2020 0 implies an attempt to test the support level near the area of 0.9565. Then continued growth of USD/CHF to the area above the level of 1.0095. 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 quotations below the level of 0.9475. This will indicate a continued fall of the pair with a potential target below the level of 0.9175.
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