Currency pair Dollar Franc USD/CHF continues to move in the growth and the rising channel. At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.9194. Moving averages indicate a short-term bullish trend for the pair. Prices broke through the areas between the signal lines upward, which indicates pressure from buyers and a potential continuation of the asset’s price growth from the current levels. At the moment, we should expect an attempt to develop a slight correction of the US Dollar against the Swiss Franc and a test of the support area near the level of 0.9145. Then, a rebound and the beginning of the growth of the US Dollar against the Swiss Franc with a potential target above the level of 0.9335.
USD/CHF Forecast Dollar Franc March 5, 2021
An additional signal in favor of raising the Dollar/Franc currency pair on FOREX will be a test of the rising trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option to raise the USD/CHF pair on Forex will be a fall and a breakdown of the 0.9075 area. This will indicate a breakdown of the support area and a continued fall in the USD/CHF quotes to the area below the level of 0.8845. Confirmation expected growth of quotations of USD/CHF stands with the breakdown of the resistance area and close above 0.9275.
USD/CHF Forecast Dollar Franc March 5, 2021 suggests an attempt to test the area of support near the 0.9145 level. Further, the continued growth of the USD/CHF currency pair with a target above the level of 0.9335. An additional signal in favor of raising 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 0.9075 area. This points to the breakdown of the support level and the continuation of decrease in pair with a potential target below 0.8845.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link