Currency pair USD/CHF Dollar/Franc ends the trading week near the level of 0.9058. The pair continues to move as part of the correction and the formation of the ”Triangle” pattern. Moving averages indicate a bearish trend. The prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the American currency and a potential continuation of the fall of the instrument. At the moment, we should expect an attempt to reduce the price and test the support area near the level of 0.9025. Further, a rebound and an attempt to continue the rise of the pair with a potential target above the level of 0.9675.
USD/CHF Forecast and Weekly Analysis August 2 — 6, 2021
An additional signal in favor of raising 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 lower border of the ”Triangle” pattern. Cancellation of the growth option for USD/CHF will be a fall and a breakdown of the 0.8745 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 0.8365 area. Confirmation of the rise in the pair in the current trading week August 2 — 6, 2021 will be a breakdown of the resistance area and closing of quotations above the level of 0.9465, which will indicate a breakdown of the upper border of the ”Triangle” model.
USD/CHF Forecast and Weekly Analysis August 2 — 6, 2021 suggests an attempt to test the support level near the 0.9025 area. Then, the continued growth of USD/CHF to the area above the level of 0.9675. 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 0.8745. This will indicate a continued fall of the pair with a potential target below the level of 0.8365.
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