Currency pair Dollar Franc USD/CHF continues to move within the correction and the downward channel. At the time of publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 1.0087. Moving averages indicate a short-term downward trend in the pair. At the moment, we should expect an attempt to correct and test the resistance area near the level of 1.0110. Then, a rebound and the continuation of the fall of the US dollar against the Swiss Franc with a target below 0.9975.
USD/CHF Forecast Dollar Franc May 23, 2019
In favor of the fall of the Dollar/Franc will test the downward trend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the fall of the USD/CHF pair on FOREX will be a strong growth and a breakdown of the area of 1.0160. This will indicate a breakdown of the upper boundary of the channel and continued growth of the USD/CHF quotes to the area above the level of 1.0235. Expect confirmation of a fall in USD/CHF quotes with the breakdown of the support area and closing below 1.0055.
USD/CHF Forecast Dollar Franc May 23, 2019 implies an attempt to test the resistance area near the level of 1.0110. Further, the continuation of the fall of the USD/CHF currency pair with the goal below the level of 0.9975. An additional signal in favor of the fall of the pair Dollar/Franc 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 a breakdown of the 1.0160 area. This will indicate a breakdown of the resistance level and continued growth of the pair with a potential target above the level of 1.0235.
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