Currency pair USD/CHF Dollar/Franc ends the trading week near the level of 0.9275. The pair continues to move within the rally and the bullish channel. Moving averages indicate a sideways trend. Prices broke the area between the signal lines upward, which indicates pressure from buyers of the American currency and a potential continuation of the instrument’s growth. At the moment, we should expect an attempt to reduce the price and test the support area near the level of 0.9145. Further, a rebound and an attempt to continue the rise of the pair with a potential target above the level of 0.9785.
USD/CHF Forecast and Analysis November 22 — 26, 2021
An additional signal in favor of a rise in the Dollar/Franc currency pair will be a test of the trend line on the relative strength index (RSI), now a resistance test is taking place, a strong signal to rise will be a breakdown of this resistance line. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for USD/CHF will be a fall and a breakdown of the 0.8825 area. This will indicate a breakdown of the support area and the continuation of the fall of the pair on Forex with a target below the 0.8455 area. A confirmation of the rise in the pair in the current trading week November 22 — 26, 2021 will be a breakdown of the resistance area and closing of quotes above the level of 0.9475, which will indicate a breakthrough of the upper border of the ”Triangle” model and the beginning of the development of this pattern.
Among the important news from Switzerland, which 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 November 22 — 26, 2021 suggests an attempt to test the support level near the 0.9145 area. Then, the continued growth of USD/CHF to the area above the level of 0.9785. A test of the trend line on the relative strength index (RSI) will be in favor of the rise. Cancellation of the USD/CHF growth option will be a breakdown of the support area and closing of quotations below 0.8825. This will indicate a continued fall of the pair with a potential target below the level of 0.8455.
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