Currency pair Dollar Franc USD/CHF continues to move as part of the fall and the formation of the «Triangle» model. At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.9409. 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 the potential continuation of the fall. At the moment, we should expect an attempt to increase the US dollar against the Swiss franc and test the resistance area near the level of 0.9425. Then, a rebound and continued depreciation of the US Dollar against the Swiss Franc with a potential target below 0.9275.
USD/CHF Forecast Dollar Franc July 14, 2020
An additional signal in favor of the fall of the Dollar Franc currency pair on FOREX will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option to reduce the pair USD/CHF at FOREX will be a strong growth and a breakdown of the area of 0.9485. This will indicate a breakdown of the resistance area and continued growth of USD/CHF quotes to the area above the level of 0.9655. Expect confirmation of a drop in the USD/CHF quotes with the breakdown of the support area and closing below the level of 0.9355, which will indicate a breakdown of the lower boundary of the «Triangle» model.
Among the important news from Switzerland that may have an impact on the USD/CHF rate, it is worth highlighting: Swiss National Bank (SNB) Chairman Jordan Speech.
USD/CHF Forecast Dollar Franc July 14, 2020 suggests an attempt to test the resistance area near the level of 0.9425. Further, the continuation of the fall of the USD/CHF currency pair with the target below the level of 0.9275. An additional signal in favor of reducing the pair Dollar/Franc will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the area of 0.9485. This will indicate a breakdown of the resistance level and continued growth of the pair with a potential target above the level of 0.9655.
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