Currency pair USD/CHF Dollar/Franc closes the trading week near the level of 0.9728 The pair continues to move as part of a strong correction and a bullish channel. Moving averages indicate a bullish trend. Prices have not yet reached the area between the signal lines, which indicates pressure from buyers of the US currency and a potential continued growth of the instrument. At the moment, we should expect an attempt to reduce the price and test the support area near the level of 0.9615. Further, a rebound and an attempt to continue the rise of the pair with a potential target above the level of 1.0295.
USD/CHF Weekly Forecast May 23 — 27, 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 border of the bullish channel. Cancellation of the USD/CHF growth option will be a fall and a breakdown of the 0.9355 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 0.9135 area. The rise of the pair in the current trading week May 23 — 27, 2022 will be confirmed by a breakdown of the resistance area and closing of quotes above the level of 1.0105.
USD/CHF Weekly Forecast May 23 — 27, 2022 suggests an attempt to test the support level near the 0.9615 area. Then, the continuation of the growth of USD/CHF to the area above the level of 1.0295. 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 0.9355. This will indicate a continuation of the fall of the pair with a potential target below the level of 0.9135.
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