Currency pair Dollar Franc USD/CHF continues to move as part of the correction and formation of the «Wedge» model. At the time of the publication of the Forex forecast, the rate of the US Dollar to the Swiss Franc is 0.9924. Moving averages indicate a short-term bullish trend for the pair. At the moment, we should expect an attempt to continue growth and test the resistance area near the level of 0.9955. Then, a rebound and the beginning of the depreciation of the US Dollar against the Swiss Franc with a potential target below 0.9725.
USD/CHF Forecast Dollar Franc September 20, 2019
An additional signal in favor of reducing 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 «Wedge» 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 boundary of the model and continued growth of USD/CHF quotes to the area above the level of 1.0165. Expect confirmation of a fall in the USD/CHF quotes with a breakdown of the lower boundary of the «Wedge» model and closing below 0.9855, which will indicate the completion of the rise and the beginning of the downward movement.
Important news from Switzerland that may affect the USD/CHF rate is not expected, so the pair will continue to move as part of a technical analysis.
USD/CHF Forecast Dollar Franc September 20, 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 0.9725. 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.
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