Currency pair USD/CHF Dollar/Franc ends the trading week near the level of 0.9387. The pair continues to move within the correction and the downward channel. Moving averages indicate a downtrend. Prices went down from the area between the signal lines, which indicates strong pressure from the sellers of the American currency and a potential continuation of the fall of the instrument. At the moment, we should expect an attempt at another price drop and a test of the support area near the level of 0.9315. Further, a rebound and an attempt to continue the growth of the pair with a potential target above the level of 0.9945.
USD/CHF Forecast and Analysis July 20 — 24, 2020
An additional signal in favor of the growth of the Dollar Franc currency pair will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the support level on the price chart. Cancellation of the growth option for USD/CHF will be a fall and a breakdown of the 0.9165 area. This will indicate a breakdown of the support area and the continuation of the fall of the pair on Forex with a target below the 0.8865 area. Confirmation of the rise in the pair in the current trading week July 20 — 24, 2020 will be a breakdown of the resistance area and closing of quotations above the level of 0.9735, which will indicate a breakdown of the upper border of the descending channel.
USD/CHF Forecast and Analysis July 20 — 24, 2020 suggests an attempt to test the support level near the 0.9315 area. Then, the continued growth of USD/CHF to the area above the level of 0.9945. A test of the trend line on the relative strength index (RSI) will be in favor of the rise. Cancellation of the USD/CHF growth option will be a breakdown of the support area and closing of quotations below 0.9165. This will indicate a continued fall of the pair with a potential target below 0.8865.