Currency pair USD/CHF Dollar/Franc closes the trading week near the level of 0.9578 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 0.9455. Further, a rebound and an attempt to continue the rise of the pair with a potential target above the level of 1.0255.
USD/CHF Weekly Forecast May 30 — June 3, 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 0.9235 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 0.9005 area. The rise of the pair in the current trading week May 30 — June 3, 2022 will be confirmed by a breakdown of the resistance area and closing of quotes above the level of 0.9705.
Among the important news from Switzerland that may have an impact on the Swiss Franc against the US Dollar, it is worth highlighting: Switzerland Gross Domestic Product (GDP) q/q.
USD/CHF Weekly Forecast May 30 — June 3, 2022 suggests an attempt to test the support level near the 0.9455 area. Then, the continuation of the growth of USD/CHF to the area above the level of 1.0255. 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 0.9235. This will indicate a continuation of the fall of the pair with a potential target below the level of 0.9005.
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