The USD/CHF currency pair continues to move within the framework of the correction development and the formation of the “Head and Shoulders” reversal pattern. At the time of the publication of the Forex forecast, the US Dollar to Swiss Franc exchange rate is 0.8852. Moving averages indicate the presence of a short-term upward trend for the pair. Prices are testing the area between the signal lines, which indicates pressure from buyers and a potential continuation of the asset’s value growth from current levels. At the moment, we should expect an attempt to develop a decline in the US Dollar against the Swiss Franc and a test of the support area near the level of 0.8825. Then, a price rebound upward and continued growth of the US Dollar against the Swiss Franc with a potential target above the mark of 0.8945.
USDCHF Forecast Dollar Franc for November 27, 2024
An additional signal in favor of the growth of the Dollar Franc currency pair on FOREX will be a rebound from the support line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the reversal pattern “Head and Shoulders”. The cancellation of the option with the growth of the USD/CHF pair on Forex will be a fall and a breakout of the 0.8795 area. This will indicate a breakout of the support area and a continuation of the fall of USD/CHF quotes to the area below the level of 0.8565. Confirmation of the growth of USD/CHF quotes should be expected with a breakout of the resistance area and the price closing above the level of 0.8895. There is no important news from Switzerland that could affect the USD/CHF rate, so the pair will continue to move within the technical analysis.
USDCHF Forecast Dollar Franc for November 27, 2024 suggests an attempt to develop a bearish correction and test the support area near the level of 0.8825. Further, the USD/CHF currency pair will continue to grow with a target above the level of 0.8945. 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 cancellation of the growth option will be a fall and a breakout of the 0.8795 area. This will indicate a breakout of the support level and a continuation of the fall of the pair with a potential target below the level of 0.8565.
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