USD/CHF Franc exchange rate forecast for March 29 - April 2, 2021
The Dollar Franc USD/CHF currency pair ends the trading week near the level of 0.9395. The pair continues to move within the growth and left the limits of the descending channel. Moving averages indicate a bearish trend. However, prices broke through the area between the signal lines up, which indicates pressure from buyers of the US currency and the potential continuation of the rise of the instrument. At the moment, we should expect an attempt to correct the price and test the support area near the level of 0.9205. Next, a rebound and an attempt to continue the pair's rise with a potential target above the 0.9945 level.
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 limit of the descending channel, which was broken up by buyers. The cancellation of the USD/CHF growth option will be a fall and a breakdown of the 0.8865 area. This will indicate the breakdown of the support area and the continuation of the fall of the pair on Forex with a goal below the 0.8425 area. Confirmation of the pair's rise in the current trading week for the week of March 29 — April 2, 2021 will be the breakdown of the resistance area and the closing of quotes above the level of 0.9595.
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 forecast of the Franc exchange rate for the week of March 29 — April 2, 2021 suggests an attempt to test the support level near the 0.9205 area. Then, the continuation of the USD/CHF growth in the area above the level of 0.9945. 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 the breakdown of the support area and the closing of quotes below the level of 0.8865. This will indicate a continuation of the pair's decline with a potential target below the 0.8425 level.