Currency pair USD/CHF Dollar/Franc completes the trading week near the level of 0.9340. The pair continues to move within the framework of the fall and the descending channel. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the US currency and a potential continuation of the fall of the instrument from current levels. At the moment, we should expect an attempt to develop a bullish price correction and a test of the resistance area near the level of 0.9475. Further, a rebound down and an attempt to continue the fall of the pair with a potential target below the level of 0.8975.
USD/CHF Forecast December 12 — 16, 2022
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 USD/CHF fall option will be a strong growth and a breakdown of the 0.9685 area. This will indicate a breakdown of the resistance area and continued growth of the pair on Forex with a target above the 1.0085 area. The fall of the pair in the current trading week December 12 — 16, 2022 will be confirmed by a breakdown of the support area and closing of quotes below the level of 0.9245.
Among the important news from Switzerland that may have an impact on the Swiss Franc against the US Dollar, it is worth highlighting: Swiss National Bank (SNB) Interest Rate Decision, Swiss National Bank (SNB) News Conference.
USD/CHF Forecast December 12 — 16, 2022 suggests an attempt to continue the development of the correction and test the resistance level near the 0.9475 area. Then, the continuation of the fall of USD/CHF to the area below the level of 0.8975. In favor of the decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the USD/CHF fall option will be a breakdown of the resistance area and closing of quotes above the level of 0.9685. This will indicate the continued growth of the pair with a potential target above the level of 1.0085.
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