Currency pair USD/CHF Dollar/Franc ends the trading week near the level of 0.9044. The pair continues to move within the fall and the downtrend channel. Moving averages indicate a downtrend. The prices once again pushed away from the area between the signal lines, which indicates strong pressure from the sellers of the American currency and the 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 0.9145. Further, a rebound and an attempt to continue the fall of the pair with a potential target below the level of 0.8695.
USD/CHF Forecast and Analysis October 26 — 30, 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 0.9445 area. This will indicate a breakdown of the resistance area and continued growth of the pair on Forex with a target below the 0.9765 area. Confirmation of the fall of the pair in the current trading week October 26 — 30, 2020 will be the breakdown of the support area and closing of quotations below the level of 0.8925.
Among the important news from Switzerland, which may have an impact on the rate of the Swiss Franc against the US Dollar, it is worth highlighting: Speech by the Chairman of the Swiss National Bank (SNB) Chairman Jordan Speech.
USD/CHF Forecast and Analysis October 26 — 30, 2020 suggests an attempt to test the resistance level near the 0.9145 area. Then, the continuation of the fall of USD/CHF to the area below the level of 0.8695. 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 0.9445. This will indicate a continued rise in the pair with a potential target above the level of 0.9765.
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