Currency pair Dollar Franc USD/CHF continues to move as part of a strong downward correction. At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.9747. Moving averages indicate the presence of a short-term bullish trend for the pair. Prices pierced down the area between the signal lines, indicating pressure from sellers of the American currency. At the moment, we should expect an attempt to depreciate the Dollar against the Franc and test the support area near the level of 0.9725. Then, a rebound and continued appreciation of the US Dollar against the Swiss Franc with a potential target above 0.9985.
USD/CHF Forecast Dollar Franc February 27, 2020
An additional signal in favor of the growth of the Dollar/Franc currency pair at FOREX will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the growth option for the USD/CHF pair on FOREX will be a fall and a breakdown of the area of 0.9675. This will indicate a breakdown of the support area and a 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 resistance area and closing above the level of 0.9875.
Important news from Switzerland that may affect the USD/CHF rate is not expected, so the pair will continue to move as part of a technical analysis.
USD/CHF Forecast Dollar Franc February 27, 2020 implies an attempt to test the support area near the level of 0.9725. Further, the continued growth of the USD/CHF currency pair with a target above the level of 0.9985. 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 0.9675. This will indicate a breakdown of the support level and continued decline in the pair with a potential target below the level of 0.9515.
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