Currency pair USD/CHF Dollar/Franc closes the trading week near the level of 0.9955. The pair continues to move within the correction and the upward channel. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to reduce and test the support area near the level of 0.9825. Further, a rebound and an attempt to grow the pair with a potential target above the level of 1.0345.
USD/CHF Forecast and Analysis October 7 — 11, 2019
In favor of the rise of the Dollar/Franc currency pair, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option USD/CHF will be a fall and a breakdown of the area of 0.9555. This will indicate a breakdown of the lower border of the channel and the continuation of the fall of the pair on Forex and the continuation of the fall with the target below 0.9305. A confirmation of the growth of the pair in the current trading week from October 7 — 11, 2019 will be a breakdown of the resistance area and closing of quotations above the level of 1.0025.
USD/CHF Forecast and Analysis October 7 — 11, 2019 suggests an attempt to test the support level near the area of 0.9825. Then, continued growth of USD/CHF to the area above the level of 1.0345. 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 the level of 0.9555. This will indicate a continued fall of the pair with a potential target below the level of 0.9305.