On the daily chart, the price turned up from the level of 0.9130 (38.2% correction) and is currently trying to gain a foothold above the level of 0.9190 (50.0% correction, the middle line of the Bollinger bands).
USD/CHF dollar franc forecast for July 26-27, 2021
If successful, the price growth will continue to the levels of 0.9250 (61.8% correction) and 0.9300 (61.8% descending fan line). However, at the same time, the price will have to break through a descending fan. Otherwise, the decline will resume to the levels of 0.9130 (correction of 38.2%) and 0.9060 (correction of 23.6%).
Technical indicators do not give a single signal: the Bollinger bands are directed horizontally, the MACD histogram is stable in the positive zone, but the Stochastic turns down.
On the weekly chart, the price has been consolidating around the important level of 0.9150 for more than five weeks (correction of 23.6%, the average line of the Bollinger bands). If the price is fixed above it, it will continue to grow to the levels of 0.9350 (38.2% correction) and 0.9430 (the upper line of the Bollinger bands). Otherwise, the quotes will be able to resume the decline to the levels of 0.8930 (May lows) and 0.8825 (correction of 0.0%).
Technical indicators do not give a single signal: the Bollinger bands are turning up, and the Stochastic is turning down. The MACD histogram is located near the zero line, its volumes are insignificant.
Support and resistance levels
In the near future, the resumption of the price decline to the levels of 0.9060 (correction of 23.6%, D1), 0.8930 (May lows) and 0.8825 (correction of 0.0%, W1) seems more likely. If the level of 0.9250 is broken up (correction of 61.8%, D1), the growth can continue to the levels of 0.9350 (correction of 38.2%, W1) and 0.9430.
Resistance levels: 0.9250, 0.9350, 0.9430.
Support levels: 0.9150, 0.9060, 0.8930, 0.8825.
Trading Scenarios
Thus, USD/CHF forecast dollar franc on July 26-27, 2021, short positions can be opened below the 0.9150 mark with targets of 0.9060, 0.8930 and a stop loss of 0.9210. Implementation period: 5-7 days.
Long positions can be opened above the 0.9250 mark with targets of 0.9350, 0.9430 and a stop loss of 0.9190.