Currency pair Dollar Franc USD/CHF continues to move within the framework of the correction and the formation of the «Head and Shoulders» reversal pattern. At the time of publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.9989. Moving averages indicate the presence of an upward trend in the pair. At the moment, we should expect an attempt to reduce and test the support area near the level of 0.9970. Then continued growth of the US dollar against the Swiss Franc with the goal above the level of 1.0110.
USD/CHF Forecast Dollar Franc March 21, 2019
In favor of raising the pair Dollar/Franc will test the rising trend line on the indicator of relative strength index (RSI). The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the growth option of the USD/CHF pair on FOREX will be a fall and a breakdown of the area of 0.9925. This will indicate a breakdown of the support area and a continued decline of the USD/CHF quotes to the area below the level of 0.9805. Expect acceleration of growth of the USD/CHF quotes with the breakdown of the resistance area and closing above the level of 1.0035.
Among the important news from Switzerland, which may have an impact on the USD/CHF rate, it is worth highlighting: The decision of the National Bank of Switzerland on the interest rate.
USD/CHF Forecast Dollar Franc March 21, 2019 implies an attempt to test the support area near the level of 0.9970. Further, the continued growth of the pair USD/CHF with the target above the level of 1.0110. An additional signal in favor of the growth of the Dollar/Franc pair will be the test of the support line on the indicator of relative strength index (RSI). Cancellation of growth option will be the fall and the breakdown of 0.9925. This will indicate a breakdown of the support area and a continued decline in the pair.
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