The USD/CHF currency pair continues to move within the development of a fall and a descending channel. At the time of publication of the Forex forecast, the US Dollar to Swiss Franc exchange rate is 0.8473. 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 asset’s fall from the current levels. At the moment, we should expect an attempt to develop growth in the US Dollar against the Swiss Franc and a test of the resistance area near the 0.8505 level. Then, a price rebound downwards and a continuation of the fall of the US Dollar against the Swiss Franc with a potential target below the 0.8305 mark.
USDCHF Forecast Dollar Franc for September 5, 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 descending channel. The cancellation of the option with a fall in the USD/CHF pair on Forex will be a strong growth and a breakout of the 0.8605 area. This will indicate a breakout of the resistance area and continued growth of USD/CHF quotes to the area above the level of 0.8975. Confirmation of the fall in USD/CHF quotes should be expected with a breakout of the support area and closing of the price below the level of 0.8425, which will indicate a breakout of the lower border of the bullish correction channel.
USDCHF Forecast Dollar Franc for September 5, 2024 suggests an attempt to develop a bullish correction and test the resistance area near the level of 0.8505. Next, the USD/CHF currency pair will continue to fall with a target below 0.8305. 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 indicator. The cancellation of the fall option will be a strong growth and a breakout of the 0.8605 area. This will indicate a breakout of the resistance level and continued growth of the pair with a potential target above 0.8975.
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