Currency pair Dollar Franc USD/CHF ends the trading week near the level of 0.8783. The pair continues to move within the framework of the development of the decline and the formation of the “Triangle” model. The moving averages indicate the presence of a downward trend. Prices are 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 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 0.8895. Next, a rebound downwards and an attempt to continue the fall of the currency pair with a potential target below the level of 0.8475.
USD/CHF Forecast and Analysis December 9 — 13, 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 “Triangle” model. The cancellation of the USD/CHF decline option this trading week will be a strong increase in quotes and a breakout of the 0.9085 area. This will indicate a breakout of the resistance area and continued growth of the pair on Forex with a target above the 0.9375 area. Confirmation of the fall of the pair in the current trading week of December 9 — 13, 2024 will be a breakout of the support area and closing of quotes below the level of 0.8705, which will indicate a breakout of the lower border of the bullish correction channel.
USD/CHF Forecast and Analysis December 9 — 13, 2024 suggests an attempt to develop a bullish correction and a test of the resistance level near the 0.8895 area. Then, the continuation of the fall of the USD/CHF pair to the area below the level of 0.8475. A test of the trend line on the relative strength indicator will be in favor of the decline. The USD/CHF fall scenario will be cancelled by a breakout of the resistance area and closing of quotes above the level of 0.9085. This will indicate continued growth of the pair with a potential target above the level of 0.9375.
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