Currency pair USD/CHF Dollar/Franc ends the trading week near the level of 0.8946. The pair continues to move within the correction and the downward channel. Moving averages indicate a bearish trend. Prices bounced off the area between the signal lines, 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 correct the price and test the resistance area near the level of 0.8995. Further, a rebound and an attempt to continue the fall of the pair with a potential target below the level of 0.8355.
USD/CHF Forecast and Weekly Analysis February 22 — 26, 2021
An additional signal in favor of the fall 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 option to reduce USD/CHF will be a strong growth and a breakdown of the 0.9175 area. This will indicate a breakdown of the resistance area and a continuation of the rise in the pair on Forex with a target above the 0.9675 area. Confirmation of the pair’s fall in the current trading week, the week February 22 — 26, 2021 will be a breakdown of the support area and closing of quotations below 0.8735.
Among the important news from Switzerland that may have an impact on the rate of the Swiss Franc against the US dollar, it is worth highlighting: Switzerland Gross Domestic Product (GDP) q/q.
USD/CHF Forecast and Weekly Analysis February 22 — 26, 2021 suggests an attempt to test the resistance level near the 0.8995 area. Then, the continuation of the fall of USD/CHF to the area below the level of 0.8355. A test of the trend line on the relative strength index (RSI) will be in favor of the decline. Cancellation of the USD/CHF fall option will be a breakdown of the resistance area and closing of quotations above the level of 0.9175. This will indicate a continued rise in the pair with a potential target above the level of 0.9675.
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