Currency pair Dollar Franc USD/CHF continues to move as part of the fall and the beginning of 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 0.9387. Moving averages indicate a short-term bearish trend for the pair. Prices have gone down from 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 depreciate the US Dollar against the Swiss Franc and test the support area near the level of 0.9365. Then, a rebound and continued growth of the US Dollar against the Swiss Franc with a potential target above 0.9520.
USD/CHF Forecast Dollar Franc July 15, 2020
An additional signal in favor of the rise 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 the completion of the formation of the «Head and Shoulders» reversal pattern. Cancellation of the option to raise the USD/CHF pair on Forex will be a fall and a breakdown of the 0.9320 area. This will indicate a breakdown of the support area and a continued fall of USD/CHF quotes to the area below the level of 0.9205. Expect confirmation of the rise in the USD/CHF quotes with the breakdown of the resistance area and closing above the level of 0.9465, which will indicate the completion of the formation of the head and shoulders reversal pattern.
USD/CHF Forecast Dollar Franc July 15, 2020 implies an attempt to test the support area near the level of 0.9365. Further, the continued growth of the USD/CHF currency pair with a target above the level of 0.9520. An additional signal in favor of the rise of 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 area of 0.9320. This will indicate a breakdown of the support level and continued fall of the pair with a potential target below the level of 0.9205.
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