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 0.8616. Moving averages indicate the presence of a short-term bearish 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 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 0.8595. Then, a price rebound upwards and continued growth of the US Dollar against the Swiss Franc with a potential target above 0.8865.
USDCHF Forecast Dollar Franc for October 16, 2024
An additional signal in favor of the rise of the Dollar Franc currency pair on FOREX will be a rebound from the bullish trend line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the bullish channel. The option with the growth of the USD/CHF pair on Forex will be cancelled by a fall and a breakout of the 0.8505 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 0.8275 level. Confirmation of the growth of USD/CHF quotes should be expected with a breakout of the resistance area and the price closing above the 0.8675 level.
USDCHF Forecast Dollar Franc for October 16, 2024 suggests an attempt to develop a bearish correction and test the support area near the 0.8595 level. Further, the continuation of the growth of the USD/CHF currency pair with a target above the 0.8865 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 the pair falls and breaks through the 0.8505 area. This will indicate a breakout of the support le
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