Currency pair Dollar Franc USD/CHF continues to move within the framework of correction and formation of the «Triangle» model. At the time of publication of the forecast, the US Dollar rate against the Swiss Franc is 0.9944. At the moment, we should expect an attempt to test the support area near the level of 0.9900 and continue the growth of the US dollar against the Swiss Franc with a target above 1.0050 as part of the «Triangle» model development.
USD/CHF forecast & technical analysis July 12, 2018
In favor of the growth of the Dollar Franc, an uptrend test on the relative strength index (RSI) will perform. Cancellation of the growth of the USD/CHF pair on Forex will be the fall and breakdown of the area of 0.9830, which will indicate the breakdown of the lower bound of the «Triangle» model and the continuation of the USD/CHF falling below 0.9650. To expect confirmation of the growth of USD/CHF quotes stands with the breakdown of the upper bound of the «Triangle» model and the closing above the level of 1.0000.
USD/CHF forecast & technical analysis July 12, 2018 involves trying to test the support area near the 0.9900 level and continuing the growth of the pair USD/CHF with a target above 1.0050, an additional signal in favor of the growth of the Dollar/Franc pair will test the trend line on the relative strength index (RSI), the cancellation of the growth variant will be the fall and breakdown of the area of 0.9830, which will indicate the breakdown of the lower boundary of the «Triangle» model.
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