The USD/CHF currency pair continues to move within the development of growth and a descending channel. At the time of publication of the Forex forecast, the US Dollar to Swiss Franc exchange rate is 0.8691. Moving averages indicate the presence of a short-term bearish trend for the pair. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers and a potential continuation of the asset’s fall from current levels. At the moment, we should expect an attempt to develop an increase in the decline of the US Dollar against the Swiss Franc and a test of the support area near the 0.8625 level. Then, the price will bounce back upwards and continue to grow the US Dollar against the Swiss Franc with a potential target above 0.8895.
USDCHF Forecast Dollar Franc for August 14, 2024
An additional signal in favor of the growth of the Dollar Franc currency pair on FOREX will be a rebound from the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the option with the growth of the USD/CHF pair on Forex will be a fall and a breakout of the 0.8575 area. This will indicate a breakout of the support area and a continuation of the fall of USD/CHF quotes to the area below 0.8225. Confirmation of the fall in USD/CHF quotes should be expected with a breakout of the support area and the price closing below 0.8705.
USDCHF Forecast Dollar Franc for August 14, 2024 suggests an attempt to develop a bearish correction and test the support area near the level of 0.8625. Further, the USD/CHF currency pair will continue to grow with a target above the level of 0.8895. 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 indicator. The cancellation of the growth option will be a fall and a breakout of the 0.8575 area. This will indicate a breakout of the support level and a continuation of the fall of the pair with a potential target below the level of 0.8225.
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