Currency pair USD/CHF Dollar/Franc closes the trading week near the level of 0.9854. The pair continues to move as part of the correction and the formation of the inverted «Head and Shoulders» model. Moving averages indicate a bearish trend, and quotes are testing the resistance area. At the moment, we should expect an attempt to reduce and test the support area near the level of 0.9745. Further, a rebound and an attempt to grow the pair with a potential target above the level of 1.0215.
USD/CHF Forecast and Analysis September 16 — 20, 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 0.9575. 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 0.9455. A confirmation of the growth of the pair in the current trading week September 16 — 20, 2019 will be a breakdown of the resistance area and closing of quotations above the level of 0.9995, which will indicate a breakdown of the upper border of the downward channel.
Among the important news from Switzerland that may affect the rate of the Swiss Franc against the US Dollar, it is worth highlighting: Swiss National Bank (SNB) Interest Rate Decision.
USD/CHF Forecast and Analysis September 16 — 20, 2019 suggests an attempt to test the support level near the area of 0.9745. Then, continued growth of USD/CHF to the area above the level of 1.0215. A test of the trend line on the relative strength index (RSI) will be in favor of the rise. The cancellation of the USD/CHF growth option will be a breakdown of the support area and closing of quotations below the level of 0.9575. This will indicate a continued fall of the pair with a potential target below the level of 0.9455.