Currency pair Dollar Franc USD/CHF ends the trading week near the level of 0.8500. The pair continues to move within the development of a fall and a descending channel. The moving averages indicate the presence of a bearish trend. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers of the American currency and a potential continuation of the instrument’s fall from the current levels. At the moment, we should expect an attempt to develop price growth and a test of the resistance area near the level of 0.8675. Next, a rebound downwards and an attempt to continue the fall of the currency pair with a potential target below the level of 0.8015.
USD/CHF Forecast and Analysis September 2 — 6, 2024
An additional signal in favor of a decline in the Dollar Franc currency pair will be a test of the trend line on the relative strength indicator (RSI). The second signal will be a rebound from the upper border of the descending channel. The cancellation of the USD/CHF fall option this trading week will be a strong increase in quotes and a breakout of the 0.8765 area. This will indicate a breakout of the resistance area and a continuation of the pair’s rise on Forex with a target above the 0.9145 area. A breakout of the support area and closing of quotes below the 0.8375 level will confirm the pair’s fall in the current trading week of September 2 — 6, 2024.
USD/CHF Forecast and Analysis September 2 — 6, 2024 suggests an attempt to develop a bullish correction and a test of the resistance level near the 0.8675 area. Then, the USD/CHF pair will continue to fall to the area below the 0.8015 level. A test of the trend line on the relative strength indicator will be in favor of the decline. The breakout of the resistance area and closing of quotes above the 0.8765 level will cancel the USD/CHF fall option. This will indicate a continuation of the pair’s rise with a potential target above the level of 0.9145.
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