Currency pair Dollar Franc USD/CHF continues to move within the correction and the bearish channel. At the time of publication of the FOREX forecast, the rate of the US Dollar to the Swiss Franc is 0.9942. Moving averages indicate a short-term downward trend in the pair. At the moment, we should expect an attempt to continue falling and test the support area near the level of 0.9905. Then, a rebound and an attempt to increase the US dollar against the Swiss Franc with the goal above the level of 1.0125.
USD/CHF Forecast Dollar Franc June 13, 2019
A test of a broken trend line on the relative strength index (RSI) will be in favor of the rise of the Dollar Franc pair. The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the growth option of the USD/CHF pair on FOREX will be a fall and a breakdown of the area of 0.9835. This will indicate a breakdown of the support level and the continuation of the fall of the USD/CHF quotes to the area below the level of 0.9685. The USD/CHF quotes growth is expected to accelerate with the breakdown of the upper limit of the «Triangle» model and closing above 0.9995.
Among the important news from Switzerland, which may have an impact on the USD/CHF rate, it is worth highlighting: Swiss National Bank (SNB) Interest Rate Decision.
USD/CHF Forecast Dollar Franc June 13, 2019 implies an attempt to test the support area near the level of 0.9905. Further, the continuation of the growth of the USD/CHF currency pair with the goal above the level of 1.0125. An additional signal in favor of raising the pair Dollar/Franc will be the test of the support line on the relative strength index (RSI). Cancellation of the growth option will be the fall and the breakdown of the area of 0.9835. This will indicate a breakdown of the support level and a continuation of the rise of the pair with a potential target below 0.9685.
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