Currency pair USD/CHF Dollar/Franc completes the trading week near the level of 0.9279. The pair continues to move within the correction and left the limits of the bullish 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 bullish price correction and a test of the resistance area near the level of 0.9405. Further, a rebound down and an attempt to continue the fall of the pair with a potential target below the level of 0.8915.
USD/CHF Forecast January 16 — 20, 2023
An additional signal in favor of the fall 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, which was broken down by the sellers. Cancellation of the USD/CHF fall option will be a strong growth and a breakdown of the 0.9545 area. This will indicate a breakdown of the resistance area and continued growth of the pair on Forex with a target above the 0.9965 area. The fall of the pair in the current trading week January 16 — 20, 2023 will be confirmed by a breakdown of the support area and closing of quotes below the level of 0.9075.
USD/CHF Forecast January 16 — 20, 2023 suggests an attempt to continue the development of a bullish correction and a test of the resistance level near the 0.9405 area. Then, the continuation of the fall of USD/CHF to the area below the level of 0.8915. In favor of the decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the USD/CHF fall option will be a breakdown of the resistance area and closing of quotes above the level of 0.9545. This will indicate the continued growth of the pair with a potential target above the level of 0.9965.
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