Currency pair USD/CHF Dollar/Franc completes the trading week near the level of 0.9114. The pair continues to move as part of the correction and the formation of a large “Triangle” pattern. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the US currency and a potential continuation of the instrument’s decline. At the moment, we should expect an attempt to reduce the price and test the support area near the level of 0.9065. Further, a rebound and an attempt to continue the rise of the pair with a potential target above the level of 0.9715.
USD/CHF Weekly Forecast January 17 — 21, 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 bullish channel, as well as from the border of the Triangle pattern. Cancellation of the USD/CHF growth option will be a fall and a breakdown of the 0.8935 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 0.8575 area. The rise of the pair in the current trading week January 17 — 21, 2022 will be confirmed by a breakdown of the resistance area and closing of quotes above the level of 0.9455, which will indicate a breakdown of the upper border of the “Triangle” model.
USD/CHF Weekly Forecast January 17 — 21, 2022 suggests an attempt to test the support level near the 0.9065 area. Then, the continuation of the growth of USD/CHF to the area above the level of 0.9715. 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 0.8935. This will indicate a continuation of the fall of the pair with a potential target below the level of 0.8575.
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