Currency pair Dollar Franc USD/CHF continues to move as part of the correction and the bearish channel. At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.9934. Moving averages indicate the presence of a short-term bearish trend for the pair. However, prices were again able to break through the area between the signal lines, which indicates pressure from buyers. At the moment, we should expect an attempt to develop a bullish correction of the dollar against the Franc and a test of the resistance area near the level of 0.9955. Then, a rebound and continued depreciation of the US Dollar against the Swiss Franc with a potential target below 0.9770.
USD/CHF Forecast Dollar Franc November 7, 2019
An additional signal in favor of the fall of the Dollar Franc currency pair on FOREX will be a test of a 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 option of falling the pair USD/CHF on FOREX will be a strong growth and the breakdown of the area of 1.0015. This will indicate a breakdown of the resistance area and continued growth of USD/CHF quotes to the area above the level of 1.0225. Expect confirmation of a drop in the USD/CHF quotes with the breakdown of the support area and closing below the level of 0.9815.
USD/CHF Forecast Dollar Franc November 7, 2019 implies an attempt to test the resistance area near the level of 0.9955. Further, the continuation of the fall of the USD/CHF currency pair with a target below the level of 0.9770. An additional signal in favor of reducing the pair Dollar/Franc will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 1.0015 area. This will indicate a breakdown of the resistance level and the continuation of the rise of the pair with a potential target above the level of 1.0225.