Currency pair Dollar Franc USD/CHF continues to move within the bearish channel. At the time of publication of the forecast, the US Dollar rate against the Swiss Franc is 0.9911. At the moment, we should expect an attempt to test the resistance area near the level of 0.9945 and continue the decline of the US Dollar against the Swiss Franc with a target below 0.9795.
USD/CHF forecast & technical analysis August 2, 2018
In favor of the fall of the pair, the Dollar/Franc will perform a resistance line test on the relative strength index (RSI). The cancellation of the USD/CHF decline option for Forex will result in a strong growth and breakdown of the area of 0.9970, which will indicate the breakdown of the upper boundary of the bearish channel and the continuation of the USD/CHF quotations growth to the area above the level of 1.0055. To expect confirmation of the decline in USD/CHF quotes stands with the breakdown of the support area and the closing below the level of 0.9855.
USD/CHF forecast & technical analysis August 2, 2018 suggests a test of the resistance area near the level of 0.9945 and the continuation of the fall of the pair USD/CHF with a target below 0.9795, an additional signal in favor of the fall of the Dollar/Franc pair will test the trend line on the relative strength index (RSI), the abolition of the decline option will be a strong growth and breakdown of the area of 0.9970, which will indicate the breakdown of the upper boundary of the descending channel and the continued growth of the pair.
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