The USD/CHF currency pair continues to move as part of the development of growth and the formation of a downward “Wolfe Wave” pattern. At the time of publication of the Forex forecast, the US Dollar to Swiss Franc rate is 0.8956. Moving averages indicate 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 fall in the value of the asset from current levels. At the moment, we should expect an attempt to develop a rise in the US Dollar rate against the Swiss Franc and a test of the resistance area near the level of 0.9090. Then, the price rebounds downwards and the US Dollar continues to fall against the Swiss Franc with a potential target below 0.8860.
USDCHF Forecast Dollar Franc for July 17, 2024
An additional signal in favor of a decline in the Dollar Franc currency pair on FOREX will be a rebound from the resistance line on the relative strength indicator (RSI). The second signal will be a rebound from the upper border of the bearish Wolfe Wave pattern. Cancellation of the option with a fall in the USD/CHF pair on Forex will be a strong growth and a breakdown of the 0.9165 area. This will indicate a breakdown of the upper boundary of the downward channel and continued growth of USD/CHF quotes to the area above the level of 0.9305. Expect confirmation of a fall in USD/CHF quotes with a breakdown of the support area and closing of the price below the level of 0.8905.
USDCHF Forecast Dollar Franc for July 17, 2024 suggests an attempt to develop a bullish correction and test the resistance area near the level of 0.9090. Further, the USD/CHF currency pair continues to fall with a target below the level of 0.8860. An additional signal in favor of a 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 0.9165 area. This will indicate a breakdown of the resistance level and continued rise of the pair with a potential target above the level of 0.9305.
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