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 0.9940. At the moment, we should expect an attempt to test the support area near the level of 0.9890 and continue the growth of the US Dollar against the Swiss Franc with a target above 1.0050 level.
USD/CHF forecast & technical analysis August 3, 2018
In favor of the growth of the Dollar Franc pair will perform a test of the support line on the indicator of relative strength index (RSI). Canceling the growth of the pair USD/CHF on Forex will be a fall and breakdown of the area of 0.9850, which will indicate the breakdown of the lower border of the bullish channel and the continuation of the USD/CHF quotations decline to the area below the level of 0.9760. To expect confirmation of the growth of USD/CHF quotes stands with the breakdown of the resistance area and the closing above the level of 0.9970, which will indicate the completion of the formation of the inverted «Head and Shoulders» model.
USD/CHF forecast & technical analysis August 3, 2018 assumes a test of the support area near 0.9940 level and the continued growth of the pair USD/CHF with a target above 1.0050, an additional signal for the growth of the Dollar/Franc pair will test the trend line on the relative strength index (RSI).