Currency pair Dollar Franc USD/CHF continues to move as part of the correction and the formation of the “Wedge” reversal pattern. At the time of publication of the Forex forecast, the exchange rate of the US Dollar to the Swiss Franc is 0.9313. Moving averages indicate the presence of a short-term bearish trend for the pair. Prices are again testing 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 the growth of the US Dollar against the Swiss Franc and a test of the resistance area near the level of 0.9365. Then, a rebound down and the continuation of the fall of the US Dollar against the Swiss Franc with a potential target below the level of 0.9135.
USD/CHF Forecast Dollar Franc December 21, 2022
An additional signal in favor of a decrease in 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 upper border of the “Wedge” reversal pattern. Cancellation of the option of falling the USD/CHF pair on Forex will be a strong growth and a breakdown of the 0.9445 area. This will indicate a breakdown of the resistance area and continued growth of USD/CHF quotes to the area above the level of 0.9665. Expect confirmation of the fall in USD/CHF quotes with a breakdown of the support area and closing of the price below the level of 0.9265, which will indicate a breakdown of the lower border of the “Wedge” reversal model and the beginning of the pattern with targets below.
USD/CHF Forecast Dollar Franc December 21, 2022 suggests an attempt to develop a correction and test the resistance area near the level of 0.9365. Further, the continuation of the fall of the USD/CHF currency pair with the target below the level of 0.9135. An additional signal in favor of the decline in the Dollar Franc pair will be a rebound from the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 0.9445 area. This will indicate a breakdown of the resistance level and continued growth of the pair with a potential target above the level of 0.9665.
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