Currency pair Dollar Franc USD/CHF continues to move within the framework of the reduction and formation of the bullish model «Wolfe Wave». At the time of publication of the forecast, the US Dollar rate against the Swiss Franc is 0.9879. At the moment, we should expect an attempt to test the support area near the level of 0.9855 and continue the growth of the US Dollar against the Swiss Franc with a target above 1.0010.
USD/CHF forecast & technical analysis August 1, 2018
In favor of the pair’s growth, the Dollar/Franc will perform a test of the support area on the indicator of relative strength index (RSI). The cancellation of the growth of the USD/CHF pair on Forex will be the fall and breakdown of the area of 0.9800, which will indicate the breakdown of the lower boundary of the Wolff Wave model and the continuation of the USD/CHF falling below 0.9700. To expect confirmation of the growth of USD/CHF quotations stands with the breakdown of the resistance area and the closing above the level of 0.9920.
USD/CHF forecast & technical analysis August 1, 2018 assumes a test of the support area near the level of 0.9855 and the continuation of the USD/CHF pair growth with a target above 1.0010, an additional signal for the growth of the Dollar/Franc pair will test the support area on the relative strength index (RSI), the abolition of the growth variant will be a decrease and breakdown of the area of 0.9800, which will indicate the breakdown of the lower boundary of the «Wolfe Wave» model and the continuation of the fall of the pair.
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