Currency pair USD/CHF Dollar/Franc ends the trading week near the level of 0.9099. The pair continues to move within the fall and the downtrend 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 correct prices and test the support area near the level of 0.8975. Further, a rebound and an attempt to continue the rise of the pair with a potential target above the level of 0.9715.
USD/CHF Forecast and Analysis November 23 — 27, 2020
An additional signal in favor of raising the Dollar/Franc currency pair will be a test of the trend line on the relative strength index (RSI). The second signal will be the formation of a “Double Bottom” reversal pattern. Cancellation of the growth option for USD/CHF will be a fall and a breakdown of the 0.8855 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 0.8565 area. Confirmation of the rise in the pair in the current trading week November 23 — 27, 2020 will be the breakdown of the resistance area and closing of quotations above the level of 0.9385.
USD/CHF Forecast and Analysis November 23 — 27, 2020 implies an attempt to test the support level near the 0.8975 area. Then, continued growth of USD/CHF to the area above the level of 0.9715. 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 0.8855. This will indicate a continued fall of the pair with a potential target below 0.8565.
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