Currency pair US Dollar to Swiss Franc USD/CHF continues to move within the framework of the formation of the bearish wave model of Wolfe. At this point, we should expect the growth of the Dollar/Franc pair to continue above the level of 0.9790, from which we should expect the pair to rebound and fall below 0.9540, within the framework of the bearish model.
USD/CHF forecast & technical analysis on August 16, 2017
In favor of the fall of the Dollar/Franc pair is the resistance area test on the relative strength indicator. Canceling the option of reducing the pair USD/CHF on Forex will be a strong growth and breakdown of the area of 0.9870, which indicates the continued growth of the pair and the abolition of the Wolfe wave.
Important news from Switzerland, which may have an impact on the Swiss franc against the US dollar, is not expected, so the pair will continue to move in the technical analysis USD/CHF.
USD/CHF forecast & technical analysis on August 16, 2017 suggests an attempt to increase to the area above the level of 0.9790, from which we should expect a rebound and the pair’s fall into the area below 0.9540 as part of the development of the bearish wave model of Wolfe.
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