Currency pair USD/CHF Dollar/Franc completes the trading week near the level of 1.0028. The pair continues to move within the framework of the correction and the formation of the «Wedge» model. Moving averages indicate a bullish trend. At the moment, we should expect an attempt to continue the correction and test the support area near the level of 0.9980. Further, the rebound and continued growth of the pair with the goal above the level of 1.0385.
USD/CHF Forecast and Analysis May 27 — 31, 2019
In favor of the growth of a pair of dollar franc will test the rising trend line on the indicator of relative strength index (RSI). The second signal will be a rebound from the lower boundary of the model «Wedge». Cancellation of the growth option USD/CHF will be the fall and the breakdown of the area of 0.9940. This will indicate a breakdown of the lower boundary of the model and the continuation of the fall of the pair on FOREX. Confirmation of the growth of the pair in the current trading week from May 27 — 31, 2019 will be the breakdown of the resistance area and closing of quotes above the level of 1.0235.
Among the important news from Switzerland, which may have an impact on the Swiss Franc against the US Dollar, it is worth noting: Switzerland Gross Domestic Product (GDP) q/q.
USD/CHF Forecast and Analysis May 27 — 31, 2019 implies an attempt to test the support level near the area of 0.9980. Then continued growth of USD/CHF in the area above the level of 1.0385. In favor of the rise will make a test trend line on the indicator of relative strength index (RSI). Cancellation of the growth option USD/CHF will be the breakdown of the support area and closing of quotes below the level of 0.9940. This will indicate a continuation of the fall of the pair with a potential target below the level of 0.9625.
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