Currency pair USD/CHF Dollar/Franc completes the trading week near the level of 0.9371. The pair continues to move within the framework of the fall and the bullish 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 0.9535. Further, a rebound down and an attempt to continue the fall of the pair with a potential target below the level of 0.8995.
USD/CHF Forecast December 5 — 9, 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 0.9665 area. This will indicate a breakdown of the resistance area and continued growth of the pair on Forex with a target below the 0.9845 area. The fall of the pair in the current trading week December 5 — 9, 2022 will be confirmed by a breakdown of the support area and closing of quotes below the level of 0.9255, which will indicate a breakdown of the lower border of the bullish channel.
USD/CHF Forecast December 5 — 9, 2022 suggests an attempt to continue the development of the correction and test the resistance level near the 0.9535 area. Then, the continuation of the fall of USD/CHF to the area below the level of 0.8995. 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 0.9665. This will indicate the continued growth of the pair with a potential target above the level of 0.9845.
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