Currency pair Dollar Franc USD/CHF ends the trading week near the level of 0.9150. The pair continues to move within the development of growth and a bullish channel. 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 0.8775. Next, a rebound upwards and an attempt to continue the growth of the currency pair with a potential target above the level of 0.9805.
USD/CHF Forecast May 27 — 31, 2024
An additional signal in favor of an increase 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 0.8705 area. This will indicate a breakdown of the support area and a continued fall of the pair on Forex with a target below the 0.8565 area. Confirmation of the growth of the pair in the current trading week of May 27 — 31, 2024 will be a breakdown of the resistance area and closing of quotes above the level of 0.9305.
USD/CHF Forecast May 27 — 31, 2024 suggests an attempt to develop a correction and test the support level near the 0.8775 area. Then, the USD/CHF pair continues to grow to the area above the level of 0.9805. 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 0.8705. This will indicate a continued decline in the pair with a potential target below the level of 0.8565.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
