The Dollar Franc USD/CHF currency pair ends the trading week near the level of 0.9198. The pair continues to move within the correction and has left the limits of the descending channel. Moving averages indicate the presence of a bearish trend. Prices are testing the area between the signal lines, which indicates pressure from sellers of the US currency and the potential continuation of the fall of the instrument. At the moment, we should expect an attempt to correct the price and test the support area near the 0.9065 level. Next, a rebound and an attempt to continue the pair's rise with a potential target above the level of 0.9605.
An additional signal in favor of the rise of the Dollar-Franc currency pair will be a test of the trend line on the relative strength indicator. The second signal will be a rebound from the upper border of the descending channel. The cancellation of the USD/CHF growth option will be a fall and a breakdown of the 0.8785 area. This will indicate a breakdown of the support area and the continuation of the pair's fall on Forex with a goal below the 0.8435 area. The confirmation of the pair's rise in the current trading week on July 19 — 23, 2021 will be the breakdown of the resistance area and the closing of quotes above the level of 0.9405.
USD/CHF Franc exchange rate forecast for July 19-23, 2021
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 within the framework of technical analysis.
Thus, the USD/CHF forecast of the Franc exchange rate for July 19-23, 2021 suggests an attempt to test the support level near the 0.9065 area. Then, the continuation of the growth of USD/CHF in the area above the level of 0.9605. The trend line test on the relative strength indicator will be in favor of the rise. The cancellation of the USD/CHF growth option will be a breakdown of the support area and the closing of quotes below the level of 0.8785. This will indicate the continuation of the pair's fall with a potential target below the level of 0.8435.