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 1.0094. Moving averages indicate the presence of a short-term side trend for the pair. At the moment, we should expect an attempt of a minor correction and a test of the support area near the level of 1.0020. Then, a rebound and continued growth of the US dollar against the Swiss Franc with the goal above the level of 1.0235.
USD/CHF Forecast Dollar Franc May 31, 2019
A test of the rising trend line on the relative strength index (RSI) will be in favor of the rise of the dollar/franc pair. The second signal will be a rebound from the lower boundary of the bull channel. Also, do not exclude the formation of an inverted «Head and Shoulders» model, which will be another signal in favor of strong growth of the pair. Cancellation of the growth option of the USD/CHF pair on FOREX will be a fall and a breakdown of the area of 0.9980. This will indicate a breakdown of the lower boundary of the channel and the continuation of a fall in USD/CHF quotes to the area below the level of 0.9865. Expect confirmation of the growth of the USD/CHF quotes with the breakdown of the resistance area and closing above the level of 1.0125.
USD/CHF Forecast Dollar Franc May 31, 2019 implies an attempt to test the support area near the level of 1.0020. Further, the continued growth of the USD/CHF currency pair with the goal above the level of 1.0235. 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 0.9980. This will indicate a breakdown of the support level and the continuation of the fall of the pair with a potential target below 0.9865.
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