Currency pair Dollar Franc USD/CHF continues to move within the framework of correction and formation of the reversal pattern «Double Bottom». At the time of publication of the forecast, the US Dollar rate against the Swiss Franc is 0.9743. At this point, we should expect an attempt to test the support area near the level of 0.9705 and the beginning of the growth of the US dollar against the Swiss Franc with a target above 0.9860.
USD/CHF forecast Dollar Franc September 12, 2018
In favor of the growth of the Dollar Franc pair will test the trend line on the indicator of relative strength index (RSI). Canceling the growth of the pair USD/CHF on Forex will be a fall and breakdown of the area of 0.9625, which will indicate the breakdown of the support area and the continuation of the USD/CHF fall in the area below the level of 0.9560.
To expect confirmation of the growth of USD/CHF quotes stands with the breakdown of the resistance area and the closing above the level of 0.9775, which will indicate the completion of the formation of the reversal model «Double Bottom».
USD/CHF forecast Dollar Franc September 12, 2018 suggests an attempt to test the upper limit of the bearish channel near the level of 0.9705 and the continued growth of the pair USD/CHF with a target above 0.9860, an additional signal in favor of the growth of the Dollar/Franc pair will test the trend line on the indicator relative strength index (RSI), the cancellation of the growth option will be the fall and breakdown of the area of 0.9625, which will indicate the breakdown of support and the continuation of the fall of the pair.
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