Currency pair Dollar Franc USD/CHF continues to move in the framework of a strong fall and a bullish channel. At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.9140. Moving averages indicate a short-term bullish trend for the pair. Prices broke through the area between the signal lines downward, which indicates pressure from sellers and a potential continuation of the fall in the asset value 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 0.9085. Then, a rebound and the beginning of the growth of the US Dollar against the Swiss Franc with a potential target above 0.9285.
USD/CHF Forecast Dollar Franc August 17, 2021
An additional signal in favor of the rise of the Dollar Franc currency pair on FOREX will be a rebound from the trend line on the relative strength index (RSI). 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 0.8805. It is worth waiting for confirmation of a rise in the USD/CHF quotes with the breakdown of the resistance area and closing the price above the level of 0.9255, as we can see, there has already been a rebound down from this level.
USD/CHF Forecast Dollar Franc August 17, 2021 suggests an attempt to test the support area near the level of 0.9085. Further, the continued growth of the USD/CHF currency pair with a target above the level of 0.9285. 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 0.8805.
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