Currency pair USD/CHF Dollar/Franc completes the trading week near the level of 0.9325. The pair continues to move within the framework of growth and a downward channel. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the US currency and a potential continuation of the fall of the instrument from current levels. At the moment, we should expect an attempt to develop a price decrease and test the support area near the level of 0.9185. Further, a rebound upwards and an attempt to continue the growth of the pair with a potential target above the level of 0.9765.
USD/CHF Forecast February 20 — 24, 2023
An additional signal in favor of the rise of the Dollar Franc currency pair will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the USD/CHF growth option will be a fall and a breakdown of the 0.8875 area. This will indicate a breakdown of the support area and a continuation of the fall of the pair on Forex with a target below the 0.8535 area. Confirmation of the growth of the pair in the current trading week February 20-24, 2023 will be a breakdown of the resistance area and closing of quotes above the level of 0.9565.
USD/CHF Forecast February 20 — 24, 2023 suggests an attempt to continue the development of the correction and test the support level near the 0.9185 area. Then, the continuation of the growth of USD/CHF to the area above the level of 0.9765. In favor of the rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the USD/CHF growth option will be a breakdown of the support area and closing of quotes below the level of 0.8875. This will indicate a continued decline in the pair with a potential target below the level of 0.8535.
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