Currency pair Dollar Franc USD/CHF continues to move as part of the fall and the formation of the “Wedge” reversal pattern. At the time of the publication of the Forex forecast, the exchange rate of the US Dollar to the Swiss Franc is 0.9256. Moving averages indicate the presence of a short-term bearish trend for the pair. Prices have gone down from the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall in the value of the asset already from current levels. At the moment, we should expect an attempt to develop a fall in the US Dollar against the Swiss Franc and a test of the support area near the level of 0.9205. Then, a bounce up and continued growth of the US Dollar against the Swiss Franc with a potential target above the level of 0.9545.
USD/CHF Forecast Dollar Franc December 16, 2022
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 lower boundary of the “Wedge” reversal pattern. Cancellation of the growth option for the USD/CHF pair on Forex will be a fall and a breakdown of the 0.9105 area. This will indicate a breakdown of the support area and a continued fall in USD/CHF quotes to the area below the level of 0.8925. Expect confirmation of the rise in USD/CHF quotes with a breakdown of the resistance area and closing of the price above the level of 0.9385, which will indicate the breakdown of the upper border of the “Wedge” reversal model and the beginning of the pattern with targets at the top.
USD/CHF Forecast Dollar Franc December 16, 2022 suggests an attempt to develop a correction and test the support area near the level of 0.9205. Further, the continued growth of the USD/CHF currency pair with a target above the level of 0.9545. An additional signal in favor of the rise of the Dollar Franc pair will be a rebound from the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 0.9105 area. This will indicate a breakdown of the support level and a continuation of the fall of the pair with a potential target below the level of 0.8925.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
