Currency pair USD/CHF Dollar/Franc ends the trading week near the level of 0.9152. The pair continues to move within the correction and the downward channel. Moving averages indicate a downtrend. Prices are testing the area between the signal lines, which indicates strong pressure from the sellers of the American currency and a potential continuation of the fall of the instrument. At the moment, we should expect an attempt to increase prices and test the resistance area near the level of 0.9225. Further, a rebound and an attempt to continue the fall of the pair with a potential target below the level of 0.8725.
USD/CHF Forecast and Analysis November 2 — 6, 2020
An additional signal in favor of the fall 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 upper border of the descending channel. Cancellation of the USD/CHF fall option will be a strong growth and a breakdown of the 0.9465 area. This will indicate a breakdown of the resistance area and continued growth of the pair on Forex with a target below the 0.9805 area. Confirmation of the pair’s fall in the current trading week on November 2 — 6, 2020 will be the breakdown of the support area and closing of quotes below 0.8925.
USD/CHF Forecast and Analysis November 2 — 6, 2020 suggests an attempt to test the resistance level near the 0.9225 area. Then, the continuation of the fall in USD/CHF to the area below the level of 0.8725. A test of the trend line on the relative strength index (RSI) will be in favor of the decline. Cancellation of the USD/CHF fall option will be a breakdown of the resistance area and closing of quotations above the level of 0.9465. This will indicate a continued rise in the pair with a potential target above the level of 0.9805.
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