The USD/CHF currency pair continues to move within the framework of a strong correction and a bullish channel. At the time of publication of the Forex forecast, the US Dollar to Swiss Franc rate is 0.9175. Moving averages indicate a short-term bullish trend for the pair. Prices are again testing the area between the signal lines, which indicates pressure from buyers and a potential continuation of growth in the value of the asset from current levels. At the moment, we should expect an attempt to develop a depreciation of the US Dollar against the Swiss Franc and a test of the support area near the level of 0.9195. Then, the price will rebound upward and continue to grow in the US Dollar against the Swiss Franc with a potential target above the level of 0.9315.
USD/CHF Forecast Dollar Franc for October 6, 2023
An additional signal in favor of growth of the Dollar Franc currency pair on FOREX will be a rebound from the bullish trend line on the relative strength indicator (RSI). The second signal will be a rebound from the upper border of the bearish channel. Cancellation of the option to raise the USD/CHF pair on Forex will be a fall and a breakdown of the 0.9075 area. This will indicate a breakdown of the support area and a continuation of the fall of USD/CHF quotes to the area below the level of 0.8775. Expect confirmation of the growth of USD/CHF quotes with a breakdown of the resistance area and closing of the price above the level of 0.9265, which will indicate a breakdown of the upper boundary of the bullish channel, and this is a signal for growth by the width of the channel.
USD/CHF Forecast Dollar Franc for October 6, 2023 suggests an attempt to develop a bearish correction and test the support area near the level of 0.9195. Further, the USD/CHF currency pair continues to grow with a target below the level of 0.9315. An additional signal in favor of a rise in the Dollar Franc pair will be a rebound from the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 0.9075 area. This will indicate a breakdown of the support level and a continued fall of the pair with a potential target below the level of 0.8775.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
