Currency pair Dollar Franc USD/CHF continues to move within the correction. At this point, we should expect an attempt to test the resistance level near the area of 0.9605 and the continuation of the fall of the US Dollar against the Swiss Franc with a target below 0.9440.
USD/CHF forecast & technical analysis April 12, 2018
In favor of the fall of the Dollar/Franc pair, a trend line test will be performed on the relative strength index (RIS), as well as the formation of the “Head and Shoulders” reversal model. The cancellation of the USD/CHF decline in the FOREX market will result in a strong growth and breakdown of the area of 0.9650, which will indicate the breakdown of the upstream channel border and the continuation of the USD/CHF rate rise to the level above 0.9770. To expect confirmation of the fall in USD/CHF quotes is with the breakdown of the support area and the closing below the level of 0.9520.
USD/CHF forecast & technical analysis April 12, 2018 suggests a test of the resistance area near the level of 0.9605 and the continuation of the fall of the pair USD/CHF with a target below 0.9440, an additional signal in favor of the fall of the Dollar/Franc pair will test the trend line on the indicator of relative strength index (RSI), the cancellation of the fall option will be a strong growth and breakdown of the area of 0.9650.