Currency pair Dollar Franc USD/CHF continues to move as part of the downward correction and the formation of the «Wedge» model. At the time of the publication of the FOREX forecast, the rate of the US Dollar to the Swiss Franc is 0.9804. Moving averages indicate the presence of a short-term bearish trend for the pair. At the moment, we should expect an attempt to depreciate the Dollar against the Franc and test the support area near the level of 0.9775. Then, a rebound and continued growth of the US Dollar against the Swiss Franc with a potential target above the level of 0.9940.
USD/CHF Forecast Dollar Franc December 19, 2019
An additional signal in favor of the growth of the Dollar Franc currency pair on FOREX will be a test of the ascending 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 area of 0.9740. This will indicate a breakdown of the support area and the continued fall of USD/CHF quotes to the area below the level of 0.9515. Expect confirmation of the growth of the USD/CHF quotes with the breakdown of the upper boundary of the «Wedge» model and closing above the level of 0.9855.
USD/CHF Forecast Dollar Franc December 19, 2019 implies an attempt to test the support area near the level of 0.9775. Further, the continued growth of the USD/CHF currency pair with a target above the level of 0.9940. An additional signal in favor of the rise of 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 area of 0.9740. This will indicate a breakdown of the support level and continued decline in the pair with a potential target below 0.9515.
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