Currency pair Dollar Franc USD/CHF continues to move as part of the correction and the formation of the «Wave Wave» downward pattern. At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.9895. Moving averages indicate a short-term bullish trend for the pair. At the moment, we should expect an attempt to grow and test the resistance area near the level of 0.9945. Then, a rebound and continued depreciation of the US Dollar against the Swiss Franc with a target below 0.9645.
USD/CHF Forecast Dollar Franc September 11, 2019
In favor of the decline in the Dollar/Franc currency pair, a test of the downward trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the upper boundary of the Wolfe Wave model. Cancellation of the option of falling the pair USD/CHF on Forex will be a strong growth and the breakdown of the area of 1.0035. This will indicate a breakdown of the upper border of the channel and continued growth of USD/CHF quotes to the area above the level of 1.0165. Expect confirmation of a drop in the USD/CHF quotes with a breakdown of the lower boundary of the rising channel and closing below the level of 0.9785.
USD/CHF Forecast Dollar Franc September 11, 2019 implies an attempt to test the resistance area near the level of 0.9945. Further, the continuation of the fall of the USD/CHF currency pair with the target below the level of 0.9645. 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 area of 1.0035. This will indicate a breakdown of the resistance level and continued growth of the pair with a potential target above the level of 1.0165.