Currency pair USD/CHF Dollar/Franc ends the trading week near the level of 0.9149. The pair continues to move within the correction and the bullish channel. Moving averages indicate a sideways trend. Prices broke the area between the signal lines downward, 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 0.9045. Further, a rebound and an attempt to continue the rise of the pair with a potential target above the level of 0.9545.
USD/CHF Forecast and Analysis November 8 — 12, 2021
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), there have already been several bounces up from such a trend 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 0.8405 area. Confirmation of the rise in the pair in the current trading week November 8 — 12, 2021 will be a breakdown of the resistance area and closing of quotations above the level of 0.9435, which will indicate a breakdown of important resistance for the bulls.
USD/CHF Forecast and Analysis November 8 — 12, 2021 suggests an attempt to test the support level near the 0.9045 area. Then, the continued growth of USD/CHF to the area above the level of 0.9545. 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 0.8405.
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