Currency pair Dollar Franc USD/CHF continues to move as part of the correction and the bearish channel. At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.9762. Moving averages indicate the presence of a short-term downtrend for the pair. At the moment, we should expect an attempt to reduce and test the support area near the level of 0.9710. Then, a rebound and continued growth of the US Dollar against the Swiss Franc with a target above the level of 0.9975.
USD/CHF Forecast Dollar Franc August 16, 2019
A test of the rising trend line on the relative strength index (RSI) will be in favor of the growth of the Dollar Franc currency pair. The second signal will be the formation of the head and shoulders reversal pattern. Cancellation of the growth option for the USD/CHF pair on Forex will be a fall and a breakdown of the area of 0.9635. This will indicate a breakdown of the lower border of the channel and a continued fall in the USD/CHF quotes to the area below the level of 0.9465. Expect confirmation of the growth of the USD/CHF quotes with the breakdown of the resistance area and closing above the level of 0.9815.
USD/CHF Forecast Dollar Franc August 16, 2019 implies an attempt to test the support area near the level of 0.9710. Further, the continued growth of the USD/CHF currency pair with a target above the level of 0.9975. An additional signal in favor of the growth of the Dollar/Franc pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the rise option will be a fall and a breakdown of the area of 0.9635. This will indicate a breakdown of the support level and continued fall of the pair with a potential target below the level of 0.9465.
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