Currency pair Dollar Franc USD/CHF continues to move as part of the correction and the downward channel. Here we observe the formation of the «Triangle» model; in most cases, this pattern breaks into the trend direction. At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.9468. Moving averages indicate a short-term bearish trend for the pair. Prices pushed from the area between the signal lines down, indicating pressure from the 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 0.9515. Then, a rebound and continued depreciation of the US Dollar against the Swiss Franc with a potential target below 0.9225.
USD/CHF Forecast Dollar Franc July 2, 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), here we observe a constant price drop at the time of testing this line. 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 0.9615. This will indicate a breakdown of the resistance area and continued growth of USD/CHF quotes to the area above the level of 0.9785, as well as testing the model precisely in growth. Expect confirmation of a drop in the USD/CHF quotes with a breakdown of the support area and closing below the level of 0.9375, which will indicate a breakdown of the lower boundary of the «Triangle» model and the development of this model.
Important news from Switzerland, which may affect the USD/CHF rate, is not expected, so the pair will continue to move as part of a technical analysis.
USD/CHF Forecast Dollar Franc July 2, 2020 implies an attempt to test the resistance area near the level of 0.9515. Further, the continuation of the fall of the USD/CHF currency pair with a target below the level of 0.9225. 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 0.9615. This will indicate a breakdown of the resistance level and continued growth of the pair with a potential target above the level of 0.9785.
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