Currency pair Dollar Franc USD/CHF continues to move within the correction. At the moment, we should expect a test of the level of 0.9770 and the continuation of the fall of quotations in the area below the level of 0.9620. In favor of reducing the Dollar/Franc pair is the breakdown of the support line on the indicator of relative strength index (RSI), as well as the formation of the «Head and Shoulders» reversal pattern.
USD/CHF prediction & technical analysis on October 16, 2017
The cancellation of the USD/CHF fall on the Forex will result in a strong growth and breakout of the area of 0.9870, which will indicate a breakdown of the resistance level and the continuation of the USD/CHF quotes above the 0.9970 area. Expect to accelerate the fall of quotations is with the breakdown of the level of 0.9690.
USD/CHF prediction & technical analysis on October 16, 2017 involves an attempt to drop the pair with the target near the area of 0.9620 as part of the development of the «Head and Shoulders» reversal model, an additional signal is a test of the broken trendline on the indicator of relative strength index (RSI).
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