Currency pair USD/CHF Dollar/Franc closes the trading week near the level of 0.9423 The pair continues to move as part of the fall and the bullish channel. The potential for the formation of the “Wedge” reversal pattern remains, with the breakdown of which it is worth considering the continuation of the price rise. Moving averages indicate a bullish trend. Prices have broken through 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 reduce the price and test the support area near the level of 0.9395. Further, a rebound and an attempt to continue the rise of the pair with a potential target above the level of 1.0045.
USD/CHF Weekly Forecast August 15 — 19, 2022
An additional signal in favor of the rise of 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 lower boundary of the bullish channel, as well as from the lower boundary of the “Wedge” reversal pattern. Cancellation of the USD/CHF growth option will be a fall and a breakdown of the 0.9205 area. This will indicate a breakdown of the support area and a continuation of the fall of the pair on Forex with a target below the 0.8915 area. The rise of the pair in the current trading week August 15 — 19, 2022 will be confirmed by a breakdown of the resistance area and closing of quotes above the level of 0.9675, which will indicate a breakdown of the upper border of the “Wedge” reversal pattern and the beginning of the development of this model with targets at the top.
USD/CHF Weekly Forecast August 15 — 19, 2022 suggests an attempt to test the support level near the 0.9395 area. Then, the continuation of the growth of USD/CHF to the area above the level of 1.0045. In favor of the rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the USD/CHF growth option will be a breakdown of the support area and closing of quotes below the level of 0.9205. This will indicate a continuation of the fall of the pair with a potential target below the level of 0.8915.
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