Currency pair Dollar Franc USD/CHF continues to move as part of the correction and the formation of a bearish model «Wedge». At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.9722. Moving averages indicate a short-term bearish trend for the pair. Prices are testing the area between the signal lines, which indicates pressure from sellers of the American currency and the potential continuation of the fall of the pair. At the moment, we should expect an attempt to increase the dollar against the Franc and test the resistance area near the level of 0.9765. Then, a rebound and continued depreciation of the US Dollar against the Swiss Franc with a potential target below 0.9515.
USD/CHF Forecast Dollar Franc April 3, 2020
An additional signal in favor of reducing the Dollar Franc currency pair at FOREX will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the «Wedge» model. Cancellation of the option of falling the pair USD/CHF on Forex will be a strong growth and a breakdown of the area of 0.9865. This will indicate a breakdown of the resistance area and a continued rise in USD/CHF quotes to the area above the level of 1.0095. Expect confirmation of a fall in the USD/CHF quotes with the breakdown of the support area and closing below the level of 0.9605.
USD/CHF Forecast Dollar Franc April 3, 2020 suggests an attempt to test the resistance area near the level of 0.9765. Further, the continuation of the fall of the USD/CHF currency pair with the target below the level of 0.9515. An additional signal in favor of the fall of the Dollar/Franc pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and a breakdown of the area of 0.9865. This will indicate a breakdown of the resistance level and the continuation of the rise of the pair with a potential target above the level of 1.0095.
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