Currency pair USD/CHF Dollar/Franc ends the trading week near the level of 0.9258. The pair continues to move as part of the growth of the correction and the downward channel. Moving averages indicate a downtrend. Prices have broken the area between the signal lines upward, which indicates strong pressure from buyers of the American currency and a potential continuation of the instrument’s growth. At the moment, we should expect an attempt at another price reduction and a test of the support area near the level of 0.8985. Further, a rebound and an attempt to continue the growth of the pair with a potential target above the level of 0.9545.
USD/CHF Forecast and Analysis September 28 — October 2, 2020
An additional signal in favor of the growth 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 growth option for USD/CHF will be a fall and a breakdown of the 0.8845 area. This will indicate a breakdown of the support area and the continuation of the fall of the pair on Forex with a target below the 0.8425 area. Confirmation of the rise in the pair in the current trading week September 28 — October 2, 2020 will be a breakdown of the resistance area and closing of quotes above 0.9365.
Important news from Switzerland, which may affect the rate of the Swiss Franc against the US Dollar, is not expected, so the pair will continue to move within the framework of technical analysis.
USD/CHF Forecast and Analysis September 28 — October 2, 2020 implies an attempt to test the support level near the 0.8985 area. Then, the continued growth of USD/CHF to the area above the level of 0.9545. A test of the trend line on the relative strength index (RSI) will be in favor of the rise. Cancellation of the growth option for USD/CHF will be a breakdown of the support area and closing of quotations below 0.8845. This will indicate a continued fall of the pair with a potential target below 0.8425.
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