Currency pair Dollar Franc USD/CHF continues to move within the correction and the bullish channel. At the time of publication of the FOREX forecast, the rate of the US Dollar to the Swiss Franc is 1.0078. Moving averages indicate the presence of a short-term upward trend for the pair. At the moment, we should expect an attempt to fall and test the support area near the level of 1.0025. Then, a rebound and continued growth of the US Dollar against the Swiss Franc with the target above the level of 1.0225.
USD/CHF Forecast Dollar Franc May 16, 2019
In favor of raising the pair Dollar/Franc will break the downtrend trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the bullish channel. Cancellation of the growth option of the USD/CHF pair on Forex will be a fall and a breakdown of the area of 0.9970. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall in USD/CHF quotes to the area below the level of 0.9855. Expect confirmation of growth of USD/CHF quotes with the breakdown of the upper boundary of the downward channel and closing above the level of 1.0135.
USD/CHF Forecast Dollar Franc May 16, 2019 implies an attempt to test the support area near the level of 1.0025. Further, the continuation of the fall of the pair USD/CHF with the goal below the level of 1.0225. An additional signal in favor of the growth of the Dollar/Franc pair will be a test of the trend line on the relative strength index (RSI). Cancellation option lift will fall and the breakdown of 0.9970. This will indicate a breakdown of the support level and the continuation of the fall of the pair with a potential target below the level of 0.9855.