Currency pair Dollar Franc USD/CHF ends the trading week near the level of 0.8937. The pair continues to move within the development of growth and a descending channel. The moving averages indicate the presence of a downward trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers of the American currency and a potential continuation of the growth of the instrument from the current levels. At the moment, we should expect an attempt to develop price growth and a test of the resistance area near the level of 0.8975. Next, a rebound downwards and an attempt to continue the fall of the currency pair with a potential target below the level of 0.8465.
USD/CHF Forecast and Analysis December 16 — 20, 2024
An additional signal in favor of a decline in the Dollar Franc currency pair will be a test of the bearish trend line on the relative strength indicator (RSI). The second signal will be a rebound from the upper border of the descending channel. The cancellation of the USD/CHF decline option this trading week will be a strong increase in quotes and a breakout of the 0.9135 area. This will indicate a breakout of the resistance area and continued growth of the pair on Forex with a target above the 0.9345 area. Confirmation of the pair’s fall in the current trading week of December 16 — 20, 2024 will be a breakout of the support area and closing of quotes below the level of 0.8735, which will indicate a breakout of the lower border of the bullish correction channel.
USD/CHF Forecast and Analysis December 16 — 20, 2024 suggests an attempt to develop a bullish correction and a test of the resistance level near the 0.8975 area. Then, the USD/CHF pair will continue to fall to the area below the level of 0.8465. A test of the trend line on the relative strength indicator will be in favor of the decline. The cancellation of the USD/CHF fall option will be a breakout of the resistance area and closing of quotes above the level of 0.9135. This will indicate continued growth of the pair with a potential target above the level of 0.9345.
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