Currency pair Dollar Franc USD/CHF continues to move as part of a strong fall and a bearish channel. At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.9963. Moving averages indicate the presence of a short-term downtrend for the pair. At the moment, we should expect an attempt to correct and test the resistance area near the level of 0.9815. Then, a rebound and the beginning of the depreciation of the US Dollar against the Swiss Franc with a target below 0.9650.
USD/CHF Forecast Dollar Franc August 6, 2019
In favor of the fall of the Dollar/Franc currency pair, a test of a downward trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the option of falling USD/CHF pair on Forex will be a strong growth and a breakdown of the area of 0.9845. This will indicate a breakdown of the lower boundary of the rising channel and continued growth of USD/CHF quotes to the area above the level of 0.9980. Expect confirmation of a drop in the USD/CHF quotes with the breakdown of the support area and closing below the level of 0.9705.
USD/CHF Forecast Dollar Franc August 6, 2019 implies an attempt to test the resistance area near the level of 0.9815. Further, the continuation of the fall of the USD/CHF currency pair with a target below the level of 0.9650. An additional signal in favor of reducing the pair Dollar/Franc will be a test of a downward trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the area of 0.9845. This will indicate a breakdown of the resistance level and continued growth of the pair with a potential target above the level of 0.9980.
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