Currency pair Dollar Franc USD/CHF continues to move within the correction and has left the bullish channel. At the time of the publication of the Forex forecast, the exchange rate of the US Dollar to the Swiss Franc is 0.9242. Moving averages indicate the presence of a short-term bearish trend for the pair. Prices have broken through the area between the signal lines down, which indicates pressure from sellers and a potential continuation of the fall in the value of the asset already from current levels. At the moment, we should expect an attempt to develop the growth of the US Dollar against the Swiss Franc and a test of the resistance area near the level of 0.9285. Then, a rebound down and the continuation of the fall of the US Dollar against the Swiss Franc with a potential target below the level of 0.9065.
USD/CHF Forecast Dollar Franc January 12, 2023
An additional signal in favor of a decrease in the Dollar Franc currency pair on FOREX will be a rebound from the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option of falling the USD/CHF pair on Forex will be a strong growth and a breakdown of the 0.9365 area. This will indicate a breakdown of the resistance area and continued growth of USD/CHF quotes to the area above the level of 0.9865. It is worth waiting for confirmation of the fall in USD/CHF quotes with a breakdown of the support area and closing the price below the level of 0.9135.
USD/CHF Forecast Dollar Franc January 12, 2023 suggests an attempt to develop a correction and test the resistance area near the level of 0.9285. Further, the continuation of the fall of the USD/CHF currency pair with the target below the level of 0.9065. An additional signal in favor of the 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 0.9365 area. This will indicate a breakdown of the resistance level and a continuation of the pair’s rise with a potential target above the level of 0.9865.
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