Currency pair Dollar Franc USD/CHF ends the trading week near the level of 0.8467. The pair continues to move within the framework of the correction development and the formation of the “Triangle” model. The moving averages indicate the presence of a bearish trend. Prices have broken through the area between the signal lines downwards, 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 0.8515. Next, a rebound downwards and an attempt to continue the fall of the currency pair with a potential target below the level of 0.8145.
USD/CHF Forecast and Analysis September 30 — October 4, 2024
An additional signal in favor of a decline in the Dollar Franc currency pair will be a test of the 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 fall option this trading week will be a strong increase in quotes and a breakout of the 0.8645 area. This will indicate a breakout of the resistance area and a continuation of the pair’s rise on Forex with a target above the 0.9045 area. A breakout of the support area and closing of quotes below the 0.8305 level will confirm the pair’s fall in the current trading week of September 30 — October 4, 2024, which will indicate a breakout of the lower border of the “Triangle” pattern and the beginning of the pattern’s development with targets below.
USD/CHF Forecast and Analysis September 30 — October 4, 2024 suggests an attempt to develop a bullish correction and a test of the resistance level near the 0.8515 area. Then, the USD/CHF pair will continue to fall to the area below the 0.8145 level. 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 if the resistance area is broken and quotes close above 0.8645. This will indicate a continuation of the pair’s rise with a potential target above 0.9045.
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