Currency pair Dollar Franc USD/CHF continues to move within a bearish correction. At this point, we should expect an attempt to test the lower limit of the channel near the area of 0.9885 and the continuation of the growth of the US dollar against the Swiss Franc with a target above the level of 1.0250.
USD/CHF forecast & technical analysis May 29, 2018
In favor of the growth of the Dollar/Franc, the formation of the reversal model «Head and Shoulders» will appear on the indicator of relative strength index (RSI). Cancellation of the growth of the pair USD/CHF on Forex will be the fall and breakdown of the area of 0.9800, which will indicate the breakdown of the lower border of the bullish channel and the continuation of the USD/CHF fall in the area below the level of 0.9700. 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 1.0000.
USD/CHF forecast & technical analysis May 29, 2018 suggests an attempt to test the support area near the level of 0.9885 and the continued growth of the pair USD/CHF with a target above the level of 1.0250, an additional signal for the growth of the Dollar/Franc pair will be a breakdown of the trend line on the indicator of relative strength index (RSI), the cancellation of the growth option will be the fall and breakdown of the area of 0.9800.
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