Currency pair Dollar Franc USD/CHF continues to move as part of the correction and the downward channel. At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.8858. Moving averages indicate a short-term bearish trend for the pair. Prices went down from the area between the signal lines, 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 0.8825. Then, the rebound and the beginning of the rise in the US Dollar rate against the Swiss Franc with a potential target above 0.9145.
USD/CHF Forecast Dollar Franc December 16, 2020
An additional signal in favor of the rise 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 lower border of the descending channel. Cancellation of the growth option for the USD/CHF pair on Forex will be a fall and a breakdown of the 0.8745 area. This will indicate a breakdown of the support area, as well as the lower border of the descending channel and a continued fall in the USD/CHF quotes to an area below the level of 0.8475. Expect confirmation of the growth of the USD/CHF quotes with the breakdown of the upper border of the downward channel and closing above the level of 0.8925.
USD/CHF Forecast Dollar Franc December 16, 2020 suggests an attempt to test the support area near the level of 0.8825. Further, the continued growth of the USD/CHF currency pair with a target above the level of 0.9145. 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 growth option will be a fall and a breakdown of the 0.8745 area. This will indicate a breakdown of the support level and the continued fall of the pair with a potential target below 0.8475.
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