Currency pair Dollar Franc USD/CHF continues to move as part of the growth and upward channel. At the time of the publication of the FOREX Forecast, the rate of the US Dollar to the Swiss Franc is 0.9801. Moving averages indicate the presence of a short-term bullish trend for the pair. Prices push from the area between the signal lines, which indicates pressure from buyers of the American currency and a potential drop already from current levels. At the moment, we should expect an attempt to increase the US Dollar against the Franc and test the resistance area near the level of 0.9855. Then, a rebound and continued depreciation of the US Dollar against the Swiss Franc with a potential target below 0.9405.
USD/CHF Forecast Dollar Franc March 24, 2020
An additional signal in favor of the fall of the Dollar Franc currency pair on FOREX will be a test of the broken trend line on the relative strength index (RSI). The second signal will be the formation of the «Head and Shoulders» reversal pattern. Cancellation of the option of falling USD/CHF pair on Forex will be a strong growth and a breakdown of the area of 0.9965. This will indicate a breakdown of the resistance area and continued growth of USD/CHF quotes to the area above the level of 1.0085. Expect confirmation of a drop in the USD/CHF quotes with a breakdown of the lower border of the channel and closing below the level of 0.9705.
USD/CHF Forecast Dollar Franc March 24, 2020 suggests an attempt to test the resistance area near the level of 0.9855. Further, the continuation of the fall of the USD/CHF currency pair with a target below the level of 0.9405. An additional signal in favor of the fall of the Dollar/Franc pair will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and the breakdown of the area of 0.9965. This will indicate a breakdown of the resistance level and continued growth of the pair with a potential target above the level of 1.0085.
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