Currency pair USD/CHF Dollar/Franc closes the trading week near the level of 0.9885. The pair continues to move within the correction and the bullish 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 0.9720. Further, a rebound and an attempt to grow the pair with a potential target above the level of 1.0285.
USD/CHF Forecast and Analysis September 2 — 6, 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 the formation of the bullish «Wolfe Wave» model. Cancellation of the USD/CHF growth option will be a fall and a breakdown of the 0.9485 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of the pair on Forex and the continuation of the fall with the target below 0.9245. A confirmation of the growth of the pair in the current trading week September 2 — 6, 2019 will be a breakdown of the resistance area and closing of quotations above the level of 0.9925, which will indicate a breakdown of the downward trend line.
Among the important news from Switzerland that could have an impact on the Swiss Franc against the US Dollar, it is worth highlighting: Swiss National Bank (SNB) Chairman Jordan Speech, Switzerland Gross Domestic Product (GDP) q/q.
USD/CHF Forecast and Analysis September 2 — 6, 2019 suggests an attempt to test the support level near the 0.9720 area. Then continued growth of USD/CHF to the area above the level of 1.0285. 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 0.9485. This will indicate a continued fall of the pair with a potential target below the level of 0.9245.