Currency pair Dollar Franc USD/CHF continues to move as part of the rise and the formation of an inverted head and shoulders pattern. At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.9163. Moving averages indicate a short-term bearish trend for the pair. Prices went up from the area between the signal lines, which indicates pressure from buyers and a potential continuation of the asset’s price growth from the current levels. At the moment, we should expect an attempt to develop a depreciation of the US Dollar against the Swiss Franc and a test of the support area near the level of 0.9115. Then, a rebound and the beginning of the growth of the US Dollar against the Swiss Franc with a potential target above 0.9375.
USD/CHF Forecast Dollar Franc August 11, 2021
An additional signal in favor of raising the Dollar Franc currency pair on FOREX will be a rebound from the trend line on the relative strength index (RSI), which has been broken upwards. The second signal will be a rebound from the support area on the price chart. Cancellation of the option to raise the USD/CHF pair on Forex will be a fall and a breakdown of the 0.9005 area. This will indicate a breakdown of the support area and a continued fall in the USD/CHF quotes to the area below the level of 0.8845. Expect confirmation of a rise in the USD/CHF quotes with the breakdown of the resistance area and closing the price above the level of 0.9275.
USD/CHF Forecast Dollar Franc August 11, 2021 suggests an attempt to test the support area near the level of 0.9115. Further, the continued growth of the USD/CHF currency pair with a target above the level of 0.9375. An additional signal in favor of raising the dollar/franc pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the upside option will be a fall and a breakdown of the 0.9005 area. This will indicate a breakdown of the support level and a continued decline in the pair with a potential target below 0.8845.
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