The USD/CHF currency pair continues to move within the development of growth and a bullish channel. At the time of publication of the Forex forecast, the US Dollar to Swiss Franc exchange rate is 0.8931. Moving averages indicate the presence of a short-term bullish trend for the pair. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and potential continuation of the asset’s value growth from the current levels. At the moment, we should expect an attempt to develop a bearish correction of the US Dollar against the Swiss Franc and a test of the support area near the level of 0.8905. Then, the price will rebound upwards and continue to grow the US Dollar against the Swiss Franc with a potential target above the mark of 0.9045.
USDCHF Forecast Dollar Franc for December 17, 2024
An additional signal in favor of the growth of the Dollar Franc currency pair on FOREX will be a rebound from the broken trend line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the bullish channel. The USD/CHF growth scenario on Forex will be cancelled if it falls and breaks through the 0.8855 area. This will indicate a breakout of the support area and a continuation of the fall of USD/CHF quotes to the area below 0.8675. Confirmation of the growth of USD/CHF quotes should be expected with a breakout of the resistance area and the price closing above 0.8995.
USDCHF Forecast Dollar Franc for December 17, 2024 suggests an attempt to develop a bearish correction and test the support area near the 0.8905 level. Further, the USD/CHF currency pair will continue to grow with a target above the 0.9045 level. An additional signal in favor of the rise of the Dollar Franc pair will be a rebound from the trend line on the relative strength indicator. The growth scenario will be cancelled if it falls and breaks through the 0.8855 area. This will indicate a breakout of the support level and a continuation of the pair’s decline with a potential target below 0.8675.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
