Currency pair USD/CHF Dollar/Franc ends the trading week near the level of 0.8915. The pair continues to move within the fall and downtrend channel. Moving averages indicate a downtrend. Prices went down from the area between the signal lines, which indicates strong 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 continue falling prices and a test of the support area near the level of 0.8875. Further, a rebound and an attempt to continue the rise of the pair with a potential target above the level of 0.9415.
USD/CHF Forecast December 28, 2020 — January 1, 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 support area. Cancellation of the growth option for USD/CHF will be a fall and a breakdown of the 0.8605 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 0.8315 area. Confirmation of the rise in the pair in the current trading week December 28, 2020 — January 1, 2021 will be a breakdown of the resistance area and closing of quotations above the level of 0.9005, which will indicate a breakdown of the upper border of the descending channel and the full completion of the decline in the instrument.
USD/CHF Forecast December 28, 2020 — January 1, 2021 implies an attempt to test the support level near the 0.8875 area. Then, the continued growth of USD/CHF to the area above the level of 0.9415. 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 0.8605. This will indicate a continued fall of the pair with a potential target below 0.8315.
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