Currency pair USD/CHF Dollar/Franc ends the trading week near the level of 0.9232. The pair continues to move within the rally and the bullish channel. Moving averages indicate a bullish trend. Prices broke the area between the signal lines upward, which indicates pressure from buyers of the American currency and a potential continuation of the instrument’s growth. At the moment, we should expect an attempt to reduce the price and test the support area near the level of 0.9175. Further, a rebound and an attempt to continue the rise of the pair with a potential target above the level of 0.9575.
USD/CHF Weekly Forecast December 13 — 17, 2021
An additional signal in favor of raising 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 border of the bullish channel. Cancellation of the growth option for USD/CHF will be a fall and a breakdown of the 0.8995 area. This will indicate a breakdown of the support area and the continuation of the fall of the pair on Forex with a target below the 0.8645 area. Confirmation of the rise in the pair in the current trading week December 13 — 17, 2021 will be a breakdown of the resistance area and closing of quotations above the level of 0.9435.
Among the important news from Switzerland that may have an impact on the rate of the Swiss Franc against the US Dollar, it is worth highlighting: Swiss National Bank (SNB) Interest Rate Decision, Press Conference of the Swiss National Bank (SNB) News Conference.
USD/CHF Weekly Forecast December 13 — 17, 2021 suggests an attempt to test the support level near the 0.9175 area. Then, the continued growth of USD/CHF to the area above the level of 0.9575. A test of the trend line on the relative strength index (RSI) will be in favor of the rise. Cancellation of the USD/CHF growth option will be a breakdown of the support area and closing of quotations below the level of 0.8995. This will indicate a continued fall of the pair with a potential target below the level of 0.8645.
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