Currency pair USD/CHF Dollar/Franc completes the trading week near the level of 0.9270. The pair continues to move within the correction and the downward channel. Moving averages indicate a bearish trend. Prices went down from the area between the signal lines, which indicates pressure from sellers of the US currency and a potential continuation of the fall of the instrument from current levels. At the moment, we should expect an attempt to develop the price growth and test the resistance area near the level of 0.9355. Further, a rebound down and an attempt to continue the fall of the pair with a potential target below the level of 0.8675.
USD/CHF Forecast Weekly Forecast March 20 — 24, 2023
An additional signal in favor of a decrease in the Dollar Franc currency pair will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the USD/CHF fall option will be a strong growth and a breakdown of the 0.9765 area. This will indicate a breakdown of the resistance area and continued growth of the pair on Forex with a target above the 1.0155 area. The fall of the pair in the current trading week of March 20-24, 2023 will be confirmed by a breakdown of the support area and closing of quotes below the level of 0.9075.
Among the important news from Switzerland that may have an impact on the Swiss Franc against the US Dollar, it is worth highlighting: Swiss National Bank (SNB), Swiss National Bank (SNB) News Conference.
USD/CHF Forecast Weekly Forecast March 20 — 24, 2023 suggests an attempt to continue the development of the correction and test the resistance level near the 0.9355 area. Then, the continuation of the fall of USD/CHF to the area below the level of 0.8675. In favor of the decline will be a test of the trend line on the relative strength index (RSI). Cancellation of the USD/CHF fall option will be a breakdown of the resistance area and closing of quotes above the level of 0.9765. This will indicate the continued growth of the pair with a potential target above the level of 1.0155.
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