Currency pair Dollar Franc USD/CHF continues to move as part of the fall and the downward channel. At the time of the publication of the Forex forecast, the exchange rate of the US Dollar to the Swiss Franc is 0.9080. Moving averages indicate a short-term bearish trend for the pair. Prices bounced off and went down from the area between the signal lines, which indicates pressure from buyers and a potential continuation of the fall in the value of the asset. At the moment, we should expect an attempt to correct the US Dollar against the Swiss Franc and test the resistance area near the level of 0.9165. Then, the rebound and the continuation of the fall in the US Dollar against the Swiss Franc with a potential target below 0.8815.
USD/CHF Forecast Dollar Franc August 6, 2020
An additional signal in favor of the fall of the Dollar Franc currency pair on 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 border of the descending channel. Cancellation of the option to drop the USD/CHF pair on Forex will be a strong growth and a breakdown of the 0.9375 area. This will indicate a breakdown of the resistance area and a continued rise in the USD/CHF quotes to the area above the level of 0.9585. Expect confirmation of a rise in USD/CHF quotes with a breakdown of the support area and closing below 0.905.
USD/CHF Forecast Dollar Franc August 6, 2020 suggests an attempt to test the resistance area near the level of 0.9165. Further, the continuation of the fall of the USD/CHF currency pair with a target below the level of 0.8815. 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 0.9375 area. This will indicate a breakdown of the resistance level and a continued rise in the pair with a potential target above the level of 0.9585.
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