Currency pair Dollar Franc USD/CHF continues to move as part of the correction and the formation of the “Head and Shoulders” reversal pattern. At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.8865. Moving averages indicate 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 fall in the asset value from current levels. At the moment, we should expect an attempt to develop a slight fall in the US Dollar against the Swiss Franc and a test of the support area near the level of 0.8805. Then, the rebound and the beginning of the rise in the US Dollar rate against the Swiss Franc with a potential target above the level of 0.9085.
USD/CHF Forecast Dollar Franc January 26, 2021
An additional signal in favor of the rise of the Dollar Franc currency pair on FOREX will be a test of the rising trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the inverted “Head and Shoulders” pattern. Cancellation of the growth option for the USD/CHF pair on Forex will be a fall and a breakdown of the 0.8715 area. This will indicate a breakdown of the support area, as well as the lower border of the descending channel and the continuation of the fall in the USD/CHF quotes to the area below the level of 0.8535. Expect confirmation of the growth of the USD/CHF quotes with the breakdown of the resistance area and closing above the level of 0.8985.
USD/CHF Forecast Dollar Franc January 26, 2021 suggests an attempt to test the support area near the level of 0.8805. Further, the continued growth of the USD/CHF currency pair with a target above the level of 0.9085. An additional signal in favor of raising the Dollar/Franc pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 0.8715 area. This will indicate a breakdown of the support level and the continuation of the fall of the pair with a potential target below 0.8535.
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