Currency pair Dollar Franc USD/CHF ends the trading week near the level of 0.9051. The pair continues to move within the framework of growth. Moving averages indicate a bearish trend. There is still potential for the formation of a Head and Shoulders reversal pattern. Prices are again testing the area between the signal lines, which indicates pressure from sellers of the American currency and a potential continuation of the instrument’s fall from current levels. At the moment, we should expect an attempt to develop a price fall and a test of the support area near the level of 0.8805. Next, a rebound upwards and an attempt to continue the growth of the currency pair with a potential target above the level of 0.9675.
USD/CHF Weekly Forecast September 25 — 29, 2023
An additional signal in favor of an increase in the Dollar Franc currency pair will be a test of the broken trend line on the relative strength indicator (RSI). The second signal will be a rebound from the lower boundary of the Head and Shoulders reversal pattern. Cancellation of the USD/CHF growth option will be a fall and a breakdown of the 0.8535 area. This will indicate a breakdown of the support area and a continuation of the pair’s fall on Forex with a target below the 0.8135 area. Confirmation of the growth of the pair in the current trading week of September September 25 — 29, 2023 will be the breakdown of the resistance area and the closing of quotes above the level of 0.9205, which will indicate a breakdown of the upper boundary of the downward channel and the beginning of the development of a pattern with targets above.
USD/CHF Weekly Forecast September 25 — 29, 2023 assumes an attempt to develop a correction and test the support level near the 0.8805 area. Then, the USD/CHF pair continues to grow to the area above the level of 0.9675. A test of the trend line on the relative strength index (RSI) will support growth. Cancellation of the USD/CHF rise option will be a breakdown of the support area and closing of quotes below the level of 0.8535. This will indicate a continuation of the pair’s fall with a potential target below the level of 0.8135.
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