Currency pair Dollar Franc USD/CHF ends the trading week near the level of 0.9093. The pair continues to move as part of the development of the fall. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines upward, which indicates pressure from buyers of the American currency and a potential continuation of the instrument’s growth from current levels. At the moment, we should expect an attempt to develop a price fall and a test of the support area near the level of 0.8825. Next, a rebound upwards and an attempt to continue the growth of the currency pair with a potential target above the level of 0.9765.
USD/CHF Forecast May 20 — 24, 2024
An additional signal in favor of a rise in the Dollar Franc currency pair will be a test of the trend line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the USD/CHF growth option in the current trading week will be a fall in quotes and a breakdown of the 0.8745 area. This will indicate a breakdown of the support area and a continuation of the pair’s fall on Forex with a target below the 0.8635 area. Confirmation of the growth of the pair in the current trading week of May 20 — 24, 2024 will be a breakdown of the resistance area and closing of quotes above the level of 0.9315.
USD/CHF Forecast May 20 — 24, 2024 assumes an attempt to develop a correction and test the support level near the 0.8825 area. Then, the USD/CHF pair continues to grow to the area above the level of 0.9765. A test of the trend line on the relative strength index (RSI) will support the rise. Cancellation of the USD/CHF growth option will be a breakdown of the support area and closing of quotes below the level of 0.8745. This will indicate a continued decline in the pair with a potential target below the level of 0.8635.
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